To average middle-class Indians, such terms as stock market, mutual funds and shares and equity are shrouded in mystery and they would want to stay away from them. For these people, investments mostly mean fixed deposits, recurring deposits or saving schemes offered by the post-office. But investment platform Groww is changing the way the new generation in India is making investment plans and is also helping them grow strong financially from a young age.
Groww recently introduced payments through the Unified Payment Interface (UPI) with multiple payment options, such as Google Pay, BHIM, Phone Pe, PayZapp and WhatsApp to help people invest in mutual funds in a much easier, faster and more transparent way.
Groww has a deep customer orientation and the company’s approach has been to make investment activities simpler and easier. To educate and help new investors, Groww has built communities where experts answer all the questions before and after they invest.
Groww started operations in April 2017 and was founded by former Flipkart employees with rich experience in technology, finance and e-commerce. The company has recently raised $6.2mn in ‘Series A’ funding led by Sequoia Capital and $1.6 mn in the ‘pre-Series A’ round of funding from Insignia Ventures Partners, Lightbridge Partners, Kairos and others.
- Groww is a technology company that offers a seamless and transparent approach to investment via a web platform, as well as Android and iOS apps
- The start-up has been recognized by the BSE, for one of the ‘highest transactions in mutual funds’ on a platform
- Groww has no subscription charges, transaction charges or any other hidden charges
- It is 100% paperless
- The company has seen a 50% month-on-month growth in several transactions since it went ‘Direct’ last April
- Groww offers all mutual funds from 34 leading fund houses
‘Our goal is to make investments easy and transparent for investors. A major part of our roadmap is driven by feedback from customers and investing through UPI was a top priority. This will make investments even simpler on all our three platforms — Android, iOS and Web’
- Lalit Keshre, CEO and co-founder, Groww