Groww has raised $30 mn in Series C funding led by YC Continuity, making it the first investment by the investment firm in India. The round also saw participation from Sequoia India, Propel Ventures, and Ribbit Capital.
Groww has over 80 lakh registered users, and offers direct mutual funds and stock brokering. The team adds that the platform has recorded over 1.5 lakh new SIPs every month.With this round of funding, the team is looking to expand its product suite, and hire engineering, growth, and product talent. Groww is also looking to invest in its technology infrastructure. The funding will also be used to further fuel their pan-India financial education initiative ‘Ab India Karega Invest’.