Private Equity Fund Investments
Fintech unicorn Groww raises $251-M; valuation climbs to $3-B
Bengaluru-based fintech unicorn startup Groww's valuation has reached USD 3 billion after a fundraise of USD 251 million led by ICONIQ with participation from investors like Alkeon, Lone Pine Capital, Steadfast, and existing investors. Groww plans to use the funds to extend its reach to under-penetrated geographies, strengthen the team and scale its tech infrastructure. Groww, which can be used to invest in direct mutual funds, stocks, ETFs and IPOs, currently has more than 20 million users.
Starting Jul-18, Groww had raised more than INR 1,000 crore from Y Combinator Continuity Fund, Propel Venture Partners, Ribbit Capital, Tiger Global, Sequoia Capital India, Kairos and Insignia Ventures Partners
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