Driven by an exceptional product-oriented team, Groww is already amongst the leading investment platforms in India, showcasing strong unit economics and customer cohorts. During the last couple of years, Groww has demonstrated that they are ready to seize that opportunity through strong accelerating momentum predicated on strength of technology.

The financial services market in India is already large, growing rapidly, and ripe for disruption. 'Groww has been helping transform the way India invests by building a platform that exemplifies simplicity, trust, and constant innovation,' added Yoonkee Sull, partner, ICONIQ Growth. Groww, started in 2016, offers to invest in direct Mutual Funds, Stocks, ETFs, and IPO for India's growing retail investors. And it seems the journey has just begun with such a huge opportunity ahead of us,' said Lalit K eshre, chief executive officer and co-founder, Groww. We are making a difference in the lives of millions of Indians by democratizing access. Over the last five years, we have built a product that customers love and have lowered the barriers to investing across India. 'We will continue working hard to build an iconic and trusted brand out of India. The company also plans to continue making significant investments in spreading financial education and awareness. The raise was headed by Tiger Global, with additional support from new backer Casdin Capital and prior investors ICONIQ Growth, Andreessen Horowitz and. Groww plans to extend its reach to the under-penetrated geographies, strengthen the team, and scale tech infrastructure. Pete Marin, President & Chief Executive Officer, said T5 had begun a strategic relationship with ICONIQ. Groww's existing investors Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global, and Propel Venture Partners were also significant participants in the round.

The round also saw participation from investors like Alkeon, Lone Pine Capital, and Steadfast. Groww raised $251 million at a valuation of $3 billion, led by ICONIQ Growth.

Iconiq growth