Nextbillion Technology Private Limited Asset Profile

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Year established

2016

Location

Bangalore Karnataka India

Primary Industry

Financial Services

About

Founded in 2016 and based in Bangalore, India, Nextbillion Technology, doing business as Groww, operates as a developer of a web and mobile application that allows users to directly invest in mutual funds and manage their investment portfolio. The company was founded by its CEO Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal. In September 2020, Groww raised USD 30 million led by returning investor Y Combinator. In April 2021, Groww raised INR 6180 million in series D funding led by new investor Tiger Global Management and acquired the mutual fund business of Indiabulls. In October 2021, Nextbillion Technology Private Limited raised USD 251 million in series E funding led by new investor Iconiq Capital, with participation from other new investors Alkeon Capital Management, Lone Pine Capital, and Steadfast Financial. Groww allows users to invest in stocks, mutual funds, exchange-traded funds, IPOs, systematic investment planning, equity-linked savings and gold. The company also offers e-books, SIP calculators, and resources on cryptocurrency along with insights about mutual funds, systematic investment planning, equity-linked savings, and everything from the personal finance world to help new investors. Groww charges customers around INR 20 or 0.05% whichever is lower for each executive order on the stock as the brokerage fee. In 2020, Groww generated a revenue of INR 76.16 lakh that is an 823% year-on-year growth compared to the revenue of INR 8.25 lakh made in 2019. During the same period, Groww’s expenses grew by 2,703%, from INR 31.76 lakh in 2019 to INR 8.69 Cr in 2020.

Current Investors

Y Combinator, Kairos, Insignia Ventures Partners

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Primary Industry

Financial Services

Sub Industries

e-Financial, Web Applications, Search Engines, Accounting/Finance Software

Website

www.groww.in

Verticals

Blockchain, FinTech, Mobile Apps

Company Stage

Series E

Total Amount Raised

Subscriber access only

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