Groww is a company that participated in the YC W18 cohort of Y Combinator and raised an estimated $1,600,000.
Groww is an India-based Y Combinator backed online investment platform. Headquartered in Bengaluru, Groww allows investors to open an account electronically and transact in mutual funds online. As of June 2018, Groww had partnered with 34 mutual fund houses and around 5000 mutual funds were available on the platform. Groww also provides a mutual fund explorer with information including past performance and stocks held.
The app and its services are available free-of-charge to the customer, with direct mutual fund plans made available in April, 2018.
History and Funding
Groww was founded by former Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal. It received seed capital from investors including Y Combinator, Mukesh Bansal and Ankit Nagori in January 2018. It raised further $1.6 million, in June 2018, in a pre-series A funding round from Insignia Venture Partners, America's Lightbridge Partners and Kairos fund.
Groww raises $21.4 million in Series B funding
Groww raises a $21,400,000 series B round from Sequoia Capital India, Ribbit Capital, Y Combinator and Sequoia Capital.
Groww raises a $6,200,000 series A round from Sequoia Capital India, Y Combinator, Kauffman Fellows Program and Propel Venture Partners.