Groww is a financial platform that gives users a new method of investing their finances through share trading and immediate equity funds.
The company Groww has raised $251 million in Series E projects supported by Iconiq Development, and almost tripled its appraisal to $3 billion in less than six months.
The console offers an insight into index funds, methodical capital management, ownership cash reserves, and all aspects of the personal finance world, assisting new customers in making investing Top Data Analytics Stocks simple by sustaining a straightforward user interface designed to make investment decisions easy, readily available, truthful, and streamlined, allowing users to build wealth without any hassles.
Recent News
Only six months after becoming a unicorn, the asset allocation and stock investment tool announced on October 25 that it had raised $251 million in a Series E financing play, tripling its capitalization to $3 billion in the vicinity of India’s unhindered financing surge.
The fundraising round was directed by US-based financial services company ICONIQ Growth, with Alkeon, Lone Pine Capital, and Steadfast also participating. Existing investors Sequoia Equity, Ribbit Wealth, YC Continuity, Tiger International, and Propel Venture Capital joined the round as well.
About Groww
Groww App, originally established in 2016, is a simple and easy-to-use investor platform for Indian investors. It has gained upwards of 4.4 and 4.5 stars in the Google Play Store and Apple App Store, respectively.
The service enables stocks, collective investment schemes, SIP, and now IPO investment opportunities (IPO assets started in February 2021) via the Groww app and online framework, with a safe and reliable top-tier level of encrypted communications.
Groww is a developing share price app with a plethora of innovative features. The plans are designed to be an all-in-one investment management app that allows venture capitalists to simply and efficiently invest in different types of assets such as equities, collective investment schemes, credit default swaps, gold, US stocks, certificates of deposit, and so on.
The software, which is accessible to both Android and iOS users, essentially allows people to begin buying and selling without any complexity.
How Does Groww Work?
It has a simple pricing system with low transaction fees. There are no extra charges when investing in a money market fund. Groww somehow doesn’t consider charging a registration process or a monthly service fee. Users can also gain an additional 1.5% with Groww’s direct fund manager scheme.
Groww offers share market basics and security patches to allow businesses to make more informed choices through E-books, assets, and articles. It is extremely simple to open a contactless account. You can apply for an IPO through the internet if you wish to play an active role in the main market. The application integrates a brokerage calculator.
Groww’s Revenue And Growth
Groww is one of the numerous startup companies that have piqued the interest of angel investors. Revenues accelerated by 4.7 times to slightly more than INR 1 crore in FY20, slightly higher compared to INR 20.14 lakhs in FY19.
Functioning income increased 3.25 times to INR 52.05 lakhs, with capital intermediaries making contributions of INR 48.24 lakhs more. In addition, the organization’s business income increased in FY21, reaching INR 52.71 crores in aggregated total revenue as per iconiq growth singhtechcrunch.
The financial advisory and partner services provided by the company generated approximately INR 34.3 crore in earnings, which was accompanied by earnings from its tech platform indictments and other deployable profits, which generated Rs 12.7 crore and INR 5.71 crore in revenue, respectively.
Groww Funding And Finance
Groww has secured $393 million in investment over six rounds. Their most recent fundraising came in the form of a Series E session on October 24, 2021. Groww has received funding from 19 venture capitalists.
The most subsequent stockholders are Ribbit Assets and Propel Investment Firm. Groww has agreed to buy Indiabulls AMC on May 11, 2021. They paid 1.8 billion dollars for Indiabulls’ AMC.
FAQs
Groww is a financial platform that gives users a new method of investing finances through share trading and immediate equity funds.
The console offers insight into index funds, methodical capital management, ownership cash reserves, and all aspects of the personal finance world, assisting new customers in making investing simple by sustaining a straightforward user interface.
The company was originally established in 2016.
Groww has secured $393.3 million in investment over six rounds.
They paid 1.8 billion dollars for Indiabulls AMC.
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