Groww gets Satya Nadella as investor and advisor, announces CEO
India's online investment platform Groww on Saturday announced that Chairman and CEO of Microsoft Corporation Satya Nadella has joined the company as an investor and advisor.
“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 CEO Lalit Keshre tweeted today morning.
The company is yet to reveal details regarding the financial part of Satya Nadella's induction.
In October 2021, Groww raised USD 251 million (around ₹1,885 crore) in a funding round led by Iconiq Growth, at a valuation of USD 3 billion.
The series E funding round also saw participation from investors like Alkeon, Lone Pine Capital and Steadfast. Groww's existing investors Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global, and Propel Venture also participated.
Founded in 2016 by four former Flipkart executives – Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal – Groww’s platform allows users to invest across direct mutual funds, exchange-traded funds (ETFs), stocks and IPOs. It also provides tools for stock and portfolio analysis for investors.
The company claims to have more than 20 million users on its platform, with 70% of its investors coming from tier-2 and 3 geographies.