Singapore – October 29, 2021 – Cooley advised Groww, an online investment platform that allows users to invest in mutual funds and stock, on its $251 million Series E round, which brings the company’s valuation to $3 billion. Partner Matthew Bartus led the Cooley team advising Groww.
Iconiq Growth led the round, which also included participation from new investors Alkeon, Lone Pine Capital and Steadfast, and existing investors Sequoia Capital India, Ribbit Capital, YC Continuity, Tiger Global and Propel Venture Partners. Groww will use the new capital to expand its business operations, strengthen its team and scale its infrastructure, as well as continue to make significant investments in improving the accessibility of its financial services to the people of India.
“Over the last five years, we have built a product that customers love and have lowered the barriers to investing across India,” Lalit Keshre, CEO and co-founder of Groww, said in a blog post. “We are making a difference in the lives of millions of Indians by democratizing access. And it seems the journey has just begun with such a huge opportunity ahead of us.”
Founded with a mission to make investing accessible and transparent for all, Groww is one of the easiest digital DIY tech-driven platforms. The company has established a strong presence in mutual fund distribution with more than 20 million users, and its reach is improving every day. Cooley also advised Groww on its Series D financing round earlier this year.
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