InvestorQ : What is ‘Groww’ and how has it entered the unicorn club?
Dharnidher Dubey made post

What is ‘Groww’ and how has it entered the unicorn club?

Shobit Khurana answered.
1 year ago
Groww is an investment platform that helps users investing in stocks, mutual funds, IPOs, gold, exchange-traded funds, etc. The company was formed in 2017 by four former Flipkart executives, namely, Lalit Keshre, Neeraj Singh, Ishan Bansal, and Harsh Jain. The Startup is now looking to extend its services to derivatives trading and helping investors to trade US-based stocks along with debt instruments such as government securities.

It has raised about $83 million in its Series D funding in a round led by Tiger Global. It has investors such as Sequoia India, YC Continuity, Ribbit Capital, and Propel Venture Partners who also participated in the round. Recently, Groww has confirmed that it has crossed the $1 billion valuations, thus entered the Unicorn Club.

The term unicorn refers to a privately help Startup that has crossed the valuation of $1 billion. The term was first coined in 2013 by a venture capitalist, namely, Aileen Lee. Unicorn signifies rarity, so it is being used to represent the statistical rarity of these successful ventures. This week has been great for the Indian Startups as four of them have entered the unicorn clubs during the week.