Groww raises $21.4 mn in Series B funding from Ribbit Capital, Sequoia

Groww announced on Thursday it has raised a $21.4 million in Series B funding round from US-based VC firm Ribbit Capital along with existing investors Sequoia India and Y Combinator also participating in the round.

Bengaluru-headquartered Groww said it will use these funds to get top talent on board across engineering, product, and growth teams, and is looking to increase the team size to 200 plus soon.

The company said in a statement it also aims to use a significant portion of the capital to fortify tech capabilities and build super scalable infrastructure for investing.

Groww, an investing platform offering direct mutual funds on its platform, has more than 2.5 million registered users, the statement added.