In what would provide massive credibility boost to stock trading platform Groww, Microsoft CEO and Chairman Satya Nadella, has joined the company as an investor and advisor.
Groww, the Bengaluru-based mutual fund and stock investment platform, has been growing over the past year. Like many others, it has ridden the 2021 fundraising waves and was valued at $3 billion after a fresh $25 million funding round last October. And now, it includes Microsoft Chairman and CEO 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 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,” he tweeted.
Groww, backed by names such as Sequoia Capital, Tiger Global, and others, had become one of the numerous firms to become a unicorn last year, which saw spectacular amounts raised by startups across the country. Groww entered the unicorn club in April 2021 after it raised $83 million in its Series D round, which valued it at over $1 billion.
With Groww, you can make investments across direct mutual funds, exchange-traded funds (ETFs), stocks, gold, IPOs, and other options simply and effectively. It also provides tools for stock and portfolio analysis for investors. Its competitors include names such as Zerodha, Paytm Money, and Upstox. Groww has come a long way from its initial days and today, it claims to have over two million active investors in stocks and over 20 million users on its platforms. 70% of its users come from Tier-II and Tier-III cities.