Groww Investment App Supported by Microsoft CEO

Indian investment app Groww announced this weekend that the head of one of the world’s largest tech companies is in his corner.

Groww CEO Lalit Keshre tweeted that Microsoft CEO Satya Nadella would invest in the company and give advice.

“Groww gets one of the best CEOs in the world as an investor and advisor,” Keshre wrote. “Glad to have @satyanadella join us on our mission to make financial services accessible in India.”

Founded in 2016, Groww allows users to invest in mutual funds. Last year, the company raised more than $ 300 million in two separate funding rounds, bringing its valuation to $ 3 billion. In 2019, the company raised $ 21.4 million in a Series B funding round led by venture capital firm Ribbit Capital.

Read more: India sees highest IPO funding in 13 years

The past year has seen a huge wave of funding for startups in India. In the first three months of the year alone, these companies generated more than $ 2 billion through Initial Public Offerings (IPOs), the highest level of IPO fundraising in the country since 2008.

This funding was motivated by massive amounts of foreign money coupled with new interest from family investors.

These are the types of investors that Groww seeks to attract.

“Easy. Fast. Transparent,” the company says on its website. “Investing in India was none of those things. But we’re changing that.

The company claims to have over 20 million members and is backed by investors such as Sequoia, Ribbit, and Tiger Capital.

Read more: Groww Investment App Raises $ 21.4 Million To Expand Market Share In India

Based in Bangalore, Groww focuses on investment products and services for millennials, offering investment planning and stock linked savings accounts.

Keshre also spoke in interviews of an expansion to other offerings: “We will consider adding government bonds and other fixed income products. We are also launching derivative products. Plus, there is a lot more to build for our mutual fund vertical itself. “

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