Investment app for millennials, Groww, raises $83 million at over $1 billion valuation – TechCrunch
More than 200 million people in India transact money digitally, but fewer than 30 million invest in mutual funds and stocks. Bangalore-based Groww has raised $83 million in its Series D financing round, which valued the Indian startup at more than $1 billion, up from $250 million in a $30 million Series C in September last year. On a side note, Groww is the eighth Indian startup to attain the unicorn status this year — and fourth this week. The startup has amassed over 15 million registered users, two-thirds of whom are first-time investors, Lalit Keshre, co-founder and chief executive of Groww, told TechCrunch in an interview. More than 60% of Groww users come from smaller cities and towns of India and 60% of these have never made such investments before, said Keshre.