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Microsoft’s Chairman and Chief Executive Officer Satya Nadella has invested an undisclosed amount in the Indian online trading platform Groww.
“Groww gets one of the world’s best CEOs as an investor and advisor. Thrilled to have @satyanadella join us in our mission to make financial services accessible in India,” Groww Co-founder and CEO Lalit Keshre said in a Twitter post.
This comes a few months after the company raised $251 million at a valuation of $3 billion, led by ICONIQ Growth and other investors, including Alkeon, Lone Pine Capital and Steadfast.
Started in 2016, Groww enables Indian retail investors to invest in direct mutual funds, stocks, ETFs and IPO. Groww plans to extend its reach to the under-penetrated geographies, strengthen the team and scale tech infrastructure. The company also plans to continue making significant investments in spreading financial education and awareness.
Groww was founded by Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal. It enables retail investors to access financial products and services through its web and mobile app on both iOS and Android. Groww is backed by marquee investors, including Sequoia Capital India, Y Combinator, Ribbit Capital, Tiger Global and Iconiq Growth. It competes with the likes of Zerodha, Upstox, and Paytm Money, as a stockbroking platform for retail traders
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