The new age mutual funds investment platform Groww has now secured $6.2 Million in the funding round of Series A which is led by the Sequoia Capital India. The round was led by the participation from some of the existing investors which include the Propel Venture Partners, Kauffman Fellows, and Y Combinator.
The company plans to use the funds to build the latest tech innovation platform and to launch some of the new products into the market.
It was also in news that Groww was in the final stage of raising funds from the Sequoia Capital India.
Groww, launched by the four Flipkart employees, Harsh Jain, Neeraj Jain, Ishan Bansal, and Lalit Keshre in the year 2017. Groww provides the direct mutual funds with the help of its application and is soon going to roll out the stock options as well soon.
“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 Keshre, chief executive officer, Groww. “We want to create a platform that has all possible investment solutions within a tech-enabled, easy-to-use interface while providing the best-in-class user experience”