Groww Receives $1.6 million in Pre-Series A Round of Funding

By SiliconIndia   |   Wednesday, July 11, 2018
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Groww, an investment platform has raised $1.6 million series A round funding from Insignia Ventures Partners, Lightbridge Partners, and Kairos along with the participation from the earlier investors Ankit Nagori and Mukesh Bansal. The funding will be used for strengthening technology and build scalable growth channels.

Lalit Keshre, Co-Founder, Groww, says, “We challenge ourselves every day with how to keep Groww simple for new investors, while adding more products and functionalities. Our long term goal is to make anything related to finance extremely simple and transparent for users while providing them the best user experience.”

The company said, there are only 20 million investors in India while more than 200 million have investable income. The only way to bring the next 180 million onboard is by making investing very simple and democratic. It also targets to launch more financial products and value-added services.

Founded in 2017, Groww aims at making investments easy and accessible to everyone. It offers direct plans for mutual funds to facilitate investing through a mobile application and a web platform in collaboration with 34 fund houses. It was founded by ex-Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal and builds unique communities that encourage knowledge-based decisions.

Founded in 2017, Insignia Venture Partners is a Singapore based venture capital firm that specializes in startup investments and it aims at helping influential companies grow in Southeast region. It is managed by a former Sequoia Asia Partner, Yinglan Tan. Lightbridge Partners, one of the investors is an investment and advisory form dedicated to working with the owners and managers of promising small and mid-sized companies to strengthen their businesses.

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