Groww

Groww is an India-based online investment platform[2] that targets first-time investors and millennials. [3] Headquartered in Bangalore, Groww allows investors to open an account electronically and transact in mutual funds and stocks online. As of June 2018, Groww had partnered with 34 mutual fund houses and around 5000 mutual funds were available on the platform. As of Sep 2020, the company had raised $59 million in venture capital with 8 million users. [4]

Groww
HeadquartersBangalore
Key peopleLalit Keshre (CEO),
Harsh Jain, Neeraj Singh and Ishan Bansal [1]
IndustryFinance and Insurance
ServicesInvestment Platform
URLhttps://groww.in/
LaunchedApril 2016 in Bangalore

Features

The app and its services are available free-of-charge to the customer, with direct mutual fund plans made available in April, 2018.[5] Groww provides mutual fund explorer with information including past performance and stocks held, educational content on investing [6] and mutual fund portfolios for various goals and profiles. Groww does not provide recommendations and expects users to choose their portfolio based on the information available.

Groww has SmartSave feature, aimed at saving account holders, where the money is stored in a liquid fund with an instant redemption option. [7]

Groww has also expanded to stocks.[8]

History


In 2020, the company started stocks investing service on its platform.[9]

The company also launched a YouTube channel called Groww Originals where financial experts discuss investing in stocks and mutual funds. It also initiated a television campaign to provide guidance on investment decisions.[10]

Awards
  • 2017-18: BSE Star MF award for 2nd best performer in RFD category in Karnataka [11]
  • 2017-18: 3rd place in BSE Star MF Fintech – Highest Transactions 2017-18 [12]
  • 2018-19: 1st place in BSE Star MF Fintech – Highest Transactions 2018-19 [13]

See also

References
  1. The Four At Groww Are Wooing First Time Retail Investors With Zero Commission Investment Products BusinessWorld Retrieved on 2 January 2020
  2. Startups that put money to work Livemint
  3. Groww leverages data to make investing simple, accessible for beginners Business Standard Retrieved on 20 February 2018
  4. Groww raises $30 million in Series C funding from YC Continuity, Sequoia, Ribbit Capital Livemint Retrieved on 2 December 2020
  5. Groww launches direct plan mutual funds The Times of India Retrieved on 30 November 2018
  6. Fintech counts on content to keep investors hooked The Economic Times
  7. Tech-happy millennials like their mutual funds Livemint Retrieved on 2 January 2020
  8. Groww, an investment app for millennials in India, raises $21.4M TechCrunch Retrieved on 2 January 2020
  9. "Groww removes account maintenance charges on demat account". mint. 25 November 2020.
  10. Tewari, Saumya (18 November 2020). "Online platforms woo investors with digital content". mint.
  11. Groww Wins BSE Award for Performance
  12. Muhurat Trading Session at BSE in the Vikram Samvat Year 2075 Bombay Stock Exchange Retrieved on 2 January 2020
  13. Muhurat Trading Session at BSE in the Vikram Samvat Year 2076 Bombay Stock Exchange Retrieved on 2 January 2020
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