Groww, which is a financial technology startup founded by former Flipkart executives has now secured $6.2 Million in the funding round of Series A led by the Sequoia Capital. Some of the other investors which include Propel Venture Partners, Y Combinator and Kauffman Fellows also participated in the round.
The company as of now has a plans to use the funds to accelerate the technology and launch some of the new features and products.
Groww was launched by Harsh Jain, Lalit Keshre, Ishan, and Neeraj Singh in the year 2017 April.
Groww provides the direct mutual plans and soon going to roll out the other investment products which even includes the Stocks. It focuses more on the millennial youth investors and has a user base of more than 1 million users on its platform.
“Millennials are increasingly moving towards financial products instead of real estate and gold. Our goal is to become the wealth app for the younger generation. There are 200 million people with investable income in India, but only 20 million investors. The only way to bring the next 180 million onboard is by making investing simple”, said Lalit Keshre, Co-Founder and Chief Executive Officer of Groww.
“We want to create a platform that has all possible investment solutions within a tech-enabled, easy-to-use interface — and all this while providing the best-in-class user experience above all else. That is the fundamental premise of our offering,” said Lalit Keshre, Co-Founder and Chief Executive Officer, Groww.
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