29 January 2018, India:
Online investment platform Groww has raised an undisclosed amount in seed funding from Y Combinator, Mukesh Bansal and Ankit Nagori.
The startup will use the fresh capital to expend its tech team and to introduce new products for its customer.
Lalit Keshre, Co-founder & CEO of Groww,said, “Our long-term vision is to build a modern financial services company out of India, accessible to everyone. That means anything that users get from a bank, should be able to get it faster and cheaper on Groww with 10x better user experience.”
Mukesh Bansal, said, “Ankit and I are excited to partner with Groww to transform personal investing in India. The startup has an exceptional team, built a solid product in a short period of time and is demonstrating very robust growth. Groww’s approach in bringing cutting edge technology and highly customer centric user interface will make investing easy for millions of consumers.”
Holly Liu, Partner at Y Combinator and Co-founder of Kabam said, “I cannot think of a better way to empower the growing group of Indian millennials by enabling them to make financial investment choices that are more accessible, faster, and cheaper than traditional banks. The startup’s product does just that. The product is built from a team with the right expertise and the right experience to tackle this large opportunity.”
Groww was founded by Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal in April 2016. The startup sells financial products including mutual funds online. The company uses data science to make investing simple, accessible and transparent.
(Image – Groww)