Groww Raises $30 Mn From Y Combinator’s Continuity Fund
Summary
Speaking to ET, Lalit Keshre, chief executive of Groww, said, “We will be using the proceeds to build many more products, teams, infrastructure… For now, we are focused on the stock investing platform, and are looking to scale that. Founded by ex-Flipkart employees Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww partners with all 34 fund houses. Groww competes with Steadview Capital and Tiger Global-backed IndWealth and Accel Partners’ portfolio company Scripbox in providing an online investing platform to consumers and retail investors, which allows them to invest in mutual funds and stocks, in what is being seen as an increasingly competitive space. The latest round saw some angel investors in the company, which include Curefit founders Mukesh Bansal and Ankit Nagori, selling a portion of their stakes, said ET. Shaken by the pandemic, Curefit had recently announced that it will be closing its centres in 15 Tier 2 cities including Mysuru, Surat, Ahmedabad, Indore and others.