Groww's valuation hits $3 bn as start-up raises $251 mn in Series E round

ICONIQ Growth leads $251-mn fundraise in start-up which has over 20 mn users

Fintech unicorn start-up Groww’s valuation has reached $3 billion after a fundraise of $251 million, led by ICONIQ Growth, including participation from investors like Alkeon, Lone Pine Capital, Steadfast, and existing investors. 

The platform, which can be used to invest in direct mutual funds, stocks, ETFs and IPOs, currently has more than 20 million users. The company had raised $83 million in its previous round, which was at a valuation of $1 billion and was led by Tiger Global. 

Groww plans to extend its reach to the under-penetrated geographies, strengthen the team, and scale tech infrastructure. The company plans to continue making