You are here: Home » Companies » Start-ups » News
Business Standard

Groww's valuation shoots past $1 billion with $83 mn Series D funding

Funding round was led by Tiger Global; The company has so far raised a total of $142 million

Groww | Tiger Global | startups in India

Samreen Ahmad  |  Bengaluru 

Groww enables users to invest in stocks, mutual funds, ETFs, IPOs, and gold in a simple, paperless, and hassle-free manner.

It’s raining unicorns in the Indian startup ecosystem. After Meesho, Cred and Pharmeasy joined the unicorn club, online investment platform has become the latest member of the group. The platform has raised $83 million in Series D round led by The company has so far raised a total of $142 million.

The Bengaluru-based company is now valued over $1 billion with the fresh funding. Existing investors Sequoia Capital India, Y Combinator, and Ribbit Capital also participated in the round.

It is the second fintech firm to join the unicorn list after CRED and the fourth startup to become unicorn in three days. Since the start of the year India has seen eight unicorns.

Founded in 2017 by former Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, enables users to invest in stocks, mutual funds, ETFs, IPOs, and gold in a simple, paperless, and hassle-free manner. It currently has over 15 million registered users.


“We have made good progress, but it feels we have just got started. 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,” said Keshre, CEO and Co-founder,

The startup competes with players such as Zerodha and Upstox. is also an investor in Upstox.

Groww plans to expand its product suite with the new fundraise, hire talent, and invest in financial education and awareness. In June last year, the startup launched stocks with an easy-to-use interface for DIY investors. It is also among the largest mutual fund distribution platforms in India, registering more than 250,000 new SIPs monthly. Financial education content has been a critical focus for Groww from its inception. In the next two years, Groww plans to launch a slew of financial education initiatives aimed at millennials and expand the market for financial services.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, April 07 2021. 19:46 IST