your password has been reset successfully, Please login again.

Investment platform Groww secures funding from Y Combinator, others

Investment platform Groww secures undisclosed amount of funding from Y Combinator, Mukesh Bansal and Ankit Nagori.
BY BEx Bureau
BusinessEx
Jan 30, 2018

In India, currently, there are around 1.80 crore Systematic Investment Plan (SIP) accounts from which various investors make investments in mutual funds at regular intervals, as per the AMFI report. With the rising investments in mutual funds, startup Groww which provides a medium for investors to invest in mutual funds has recently raised an undisclosed amount of funding from Y Combinator and CureFit founders Mukesh Bansal and Ankit Nagori.

In 2016, Bengaluru-based startup Groww was launched by Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal. The startup provides a platform through which investors can know what best mutual fund option they have for investment as well as start investing as SIP or the Lump-sum way. Besides investing it also helps in to keep a track of the investment and helps in investment decision making through their content and connections.

The startup currently offers its services through application-based software for Android users and claims to have over 5000 mutual funds in which investors can invest in without any paperwork. The platform is targeting 1 million users by the end of this year.

Lalit Keshre, Co-founder CEO, says, 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 ten times better user experience.

The investors Mukesh Bansal and Ankit Nagori founded CureFit has also raised $10 million debt funding for their startup from Axis Bank and HDFC Bank.

Please add your Comment
SIMILAR News
June 13, 2018
It announced in April to bring its stake to 21 percent ...More
By Sanjana Surbhi
June 13, 2018
The fund plans to invest in seven to eight startups this year ...More
By Sanjana Surbhi
June 12, 2018
About 80% of V-Mart’s stores are located in cities with a population below one million ...More
By Sanjana Surbhi
June 08, 2018
Sunil Sood has been the MD and CEO of Vodafone India since April 2015 ...More
By Sanjana Surbhi
June 08, 2018
Reliance is set to become one of the largest non-conventional gas producers in India through the pro ...More
By Sanjana Surbhi
June 01, 2018
Sequoia India, which first invested in Pine Labs in 2009, remains the company’s largest shareholder ...More
By Sanjana Surbhi
June 01, 2018
Maiya initially raised funds from Ascent Capital and later from Peepul Capital ...More
By Sanjana Surbhi
May 31, 2018
WeWork operates nearly 1-million-sqft space at present and has a million sqft more signed up already ...More
By Sanjana Surbhi
May 31, 2018
Uber received $1.25 billion from a large deal with SoftBank in January ...More
By Sanjana Surbhi
May 31, 2018
The telecom settled its eight month dispute with Swedish telecom equipment maker Ericsson ...More
By Sanjana Surbhi
May 31, 2018
Azim Premji invests in private companies to become prosperous public companies ...More
By Sanjana Surbhi
May 30, 2018
The Italian company deals with bio-stimulus and speciality nutrients products for agriculture ...More
By Sanjana Surbhi