Groww, which raised $83 Mn in its Series D round in April this year, is reportedly looking to raise another $250 Mn at the valuation of $2-3 Bn in the coming weeks. Reports suggest that the funding round is likely to be co-led by existing investors Tiger Global, Coatue and TCV, and Insight Partners may also be exploring the possibility of investing in the startup.
Launched in 2017 by ex-Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansa, Groww provides users with direct plans for mutual funds investing via its mobile application and web platform. In addition, it offers stocks, ETFs, IPOs and gold provisions on its platform. Earlier this month, the insurtech startup also acquired 13-year-old Indiabulls’ mutual fund business for INR 175 Cr to diversify its business offering.