Investment management startup Groww has raised $30 million in Series C funding led by YC Continuity.
This is the first investment by YC Continuity in India.
The funding round also saw participation from Sequoia India, Ribbit Capital and Propel Ventures.
As per the startup, it plans to use the funding amount to invest in its technology infrastructure and expand its product suite, and hire engineering, growth, and product talent.
The startup also plans to use the funding to further accelerate its pan-India financial education initiative ‘Ab India Karega Invest’.
Founded by Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal, Groww is a Bengaluru-based investment management startup that leverages technology and expert financial knowledge to make investing extremely simple yet rewarding for people.
Talking about this funding round, Lalit Keshre, Co-founder and CEO of Groww, said in the press statement,
“We started our journey with small steps — writing blogs and making videos to educate people about investing. Our wealth as a nation will keep growing, and our mission is to provide the best experience for investors to manage their wealth. We are happy to partner with investors who believe in our long-term vision. YC played a key role in our early years, and now this investment will help us accelerate towards our goals.”
Currently, Groww offers direct mutual funds and stockbroking services and also has over 80 lakh registered users.
The startup also adds that the platform has recorded over 1.5 lakh new SIPs every month.
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