PE-VC Fund Investments
Fintech co Groww to raise $202-M from GIC, Iconiq Capital
Bengaluru-based, IPO-bound fintech unicorn Groww is to raise USD 202.3 million (around INR 1,735 crore) in a Series F funding round from Singaporean sovereign wealth fund GIC and Iconiq Capital at a valuation of USD 7 Billion.The company is to allot 1.8 Cr Series F compulsorily convertible preference shares (CCPS) at INR 482.8 each to GIC (Viggo Investment Pte Ltd) and ICONIQ Capital unit, ISP VII-B Blocker GW. The startup will dilute 2.86% equity shares on conversion of the preference shares. The company will also allot 1,000 equity shares to GIC.
Between Jul 2018 and Oct 2021, Groww had attracted about USD 395 M from Alkeon Capital, Iconiq Capital, Lone Pine Capital, Peak XV Partners, Propel Venture Partners, Ribbit Capital, Steadfast Capital, Tiger Global, Y Combinator Continuity Fund and others.
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