Launch year: 2016
Country: India
Funds raised: $29 million as of September 2019

Groww – A Mobile App to Simplify Online Investments

Concept description

Groww is an India-based online investment platform that targets first-time investors and millennials. Headquartered in Bangalore, India, the company allows investors to open an account electronically and transact in mutual funds and also stocks online. As of June 2018, Groww had partnered with 34 mutual fund houses. As a result, around 5000 mutual funds were available on the platform.

Value proposition

Groww offers investments in zero-commission (Direct) Mutual Funds, without paperwork and within minutes. It has taken a community-based approach by starting various groups and channels on the app, keeping in mind that people find it easier to invest when they consult their peer groups. The company is building a customer focused modern financial services company powered by technology and becoming a one-stop solution for all the financial management and services one would need.

 

 

The average age of the investors on Groww is just 26 years. More than 60% of Groww users come from smaller cities and towns of India. Furthermore, 60% of these have never made such investments before. In conclusion, it allows users to invest in mutual funds available in India, buy stocks of Indian and US-listed firms, and purchase digital gold.

Illustration (Video)

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