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Groww raises USD 1.6 mn funding from Insignia Ventures, others

Press Trust of India  |  New Delhi 

Investment platform today said it has raised USD 1.6 million (about Rs 11 crore) in funding from a clutch of investors including Insignia Ventures, Lightbridge, among others.

The funding round also saw participation from previous investors and

The company plans to utilise the funds for strengthening technology and building scalable growth channels, said in a statement.

is also an investor in the start up, the company added.

Our long term goal is to make anything related to finance extremely simple and transparent for users while providing them the best user experience, said.

Launched in April 2017 by ex-employees Lalit Keshre, Harsh Jain, and Ishan Bansal, Groww provides for mutual funds and a "transparent approach to investing via a mobile app and web platform".

Groww, which partners with all 34 fund houses, said the company plans to come out with more and value-added services in the long run.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 09 2018. 15:10 IST