Groww is already on a solid growth path, this will now grow further as Satya Nadella, the CEO of Microsoft has invested in its future and will also be advising the Mutual fund and stock investment platform company.
Lalit Keshre Groww’s co-founder and CEO tweeted the announcement on January 8 saying, “Groww gets one of the world’s best CEOs as an investor and advisor. Thrilled to have @satyanadella join us in our mission to make financial services accessible in India.”
This comes after the two rounds of funding raised by Groww in 2021. The company first raised $83 million in April 2021 at a valuation of over $1 billion. In October again, the startup raised $251 million in a Series E funding round, tripling its valuation to $3 billion amidst the unabated funding boom in Indian startups.
Groww has a new Angel of Growth, Satya Nadella
The online mutual fund investment and stockbroking Groww has witnessed immense customer interest in India since the beginning of the pandemic.
Job losses, health concerns led Indians to invest and save more in avenues including mutual funds and also try their luck at gaining from the stock market highs and lows.
This coupled with the recent retail investor interest seen in initial public offerings (IPOs) signaling a growing user base for players like Groww has attracted global investors, with Nadella joining the list.
The startup’s other investors include Ribbit Capital, Sequoia Y Combinator, Tiger Global, Propel Venture Partners, ICONIQ Growth, Alkeon, Lone Pine Capital, and Steadfast.
