New Delhi: Investment platform Groww on Wednesday stated it has raised USD 83 million (round Rs 615 crore) in a funding round led by Tiger Global at a valuation of USD 1 billion.
The funding round additionally noticed participation of current buyers Sequoia India, Ribbit Capital, YC Continuity and Propel Venture Partners.
“Groww has raised USD 83 million in Series D round at a valuation of more than USD 1 billion. Tiger Global led the fundraising with the participation of Groww’s existing investors,” the corporate stated in an announcement.
Any startup that’s valued at USD 1 billion is termed unicorn.
Groww was began virtually 5 years again to make investing accessible and clear to everybody in India, and it has made good progress, CEO and co-founder Lalit Keshre stated.
“Only around 25 million people in India are investing in stocks or mutual funds. We will continue working to change this. The new capital will help us invest in new products, acquire talent and continue building our financial education platforms,” he stated.
With this round, Groww has raised complete USD 140 million until date.
Groww allows customers to take a position in shares, mutual funds, ETFs, IPOs, Gold and so on. Started in 2017, Groww claims to have greater than 15 million registered customers.
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