Fintech unicorn start-up Groww’s valuation has reached $3 billion after a fundraise of $251 million, led by ICONIQ Progress, together with participation from buyers like Alkeon, Lone Pine Capital, Steadfast, and present buyers.
The platform, which can be utilized to spend money on direct mutual funds, shares, ETFs and IPOs, at present has greater than 20 million customers. The corporate had raised $83 million in its earlier spherical, which was at a valuation of $1 billion and was led by Tiger International.
Groww plans to increase its attain to the under-penetrated geographies, strengthen the workforce, and scale tech infrastructure. The corporate plans to proceed making investments in spreading monetary schooling and consciousness.
Based in 2017 by former Flipkart workers Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, the start-up competes with gamers resembling Zerodha and Upstox. Tiger International can be an investor in Upstox.
Lalit Keshre, CEO and co-Founding father of Groww, stated: “We are going to proceed working exhausting to construct an iconic and trusted model out of India. Over the previous 5 years, we have now constructed a product that prospects