Fintech platform Grow, led by ICONIQ Growth, has raised $251 million at a valuation of $3 billion. Investors such as Alken, Lone Pine Capital and Steadfast also participated in the current round.
Grow’s existing investors Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global and Propel Venture Partners also participated in the round.
expanding reach
Started in 2016, Grow enables Indian retail investors to invest directly in mutual funds, stocks, ETFs and IPOs. Grow plans to expand its reach to low-penetration geographies, strengthen the team and enhance technical infrastructure. The company also plans to continue making significant investments in financial education and spreading awareness.
Lalit Keshare, CEO and Co-Founder, Grow said, “Over the past five years, we have built a product that customers love and reduce investment barriers across India. We are transforming the lives of millions of Indians by democratizing access. And it seems that the journey with such a huge opportunity before us has just begun. ”
financial services market
“Grove is helping to transform the way India invests, by creating a platform that exemplifies simplicity, trust and constant innovation. The financial services market in India is already large, rapidly growing, and ripe for disruption. Over the past few years, Grow has demonstrated that they are ready to seize that opportunity through strong accelerated momentum based on the strength of technology,” said Yunki Sul, Partner at ICONIQ Growth.
Grow was founded by Lalit Keshare, Harsh Jain, Neeraj Singh and Ishaan Bansal. Grow enables retail investors to access financial products and services through its web and mobile apps on both iOS and Android. Grow is backed by marquee investors including Sequoia Capital India, Y Combinator, Ribbit Capital, Tiger Global and Iconic Growth.
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