In what would boost the credibility of the Groww stock trading platform, Microsoft CEO and Chairman Satya Nadella joined the company as an investor and advisor.
Groww, the Bengaluru-based mutual fund and equity investment platform, has grown over the past year. Like many others, it rode the fundraising waves of 2021 and was valued at $ 3 billion after another $ 25 million funding round last October. And now it includes the CEO of Microsoft as an investor and advisor.
Groww CEO Lalit Keshre took to Twitter to announce the development. The startup was founded in May 2016 by Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal.
“Groww gets one of the best CEOs in the world as an investor and advisor. Glad to see @satyanadella joining us in our mission to make financial services accessible in India, ”he tweeted.
Groww, backed by names like Sequoia Capital, Tiger Global and others, had become one of several unicorn-turning companies over the past year, which has seen dramatic amounts raised by startups across the country. Groww entered the Unicorn Club in April 2021 after raising $ 83 million in his Series D round, which valued him at over $ 1 billion.
With Groww, you can make investments in direct mutual funds, exchange-traded funds (ETFs), stocks, gold, IPOs, and other options in an easy and efficient way. It also provides stock and portfolio analysis tools to investors. Its competitors include names such as Zerodha, Paytm Money, and Upstox. Groww has come a long way since its inception and today it claims to have over two million active equity investors and over 20 million users on its platforms. 70% of its users come from level II and III cities.