Microsoft CEO Satya Nadella Invests In Indian Fintech Unicorn Groww

Microsoft CEO Satya Nadella Invests In Indian Fintech Unicorn Groww

SUMMARY

Satya Nadella has joined as an investor and advisor in the Bengaluru-based wealth management startup Groww

In Oct, Groww had raised $251 Mn led by ICONIQ Growth at a $3Bn valuation

In April 2021, Groww entered the unicorn club after raising $83 Mn in its Series D round

Satya Nadella, the chief executive officer of the second most valuable company in the world– Microsoft, has joined as an investor and advisor in the Bengaluru-based wealth management startup Groww.

Lalit Keshre, the founder and CEO of Groww took to Twitter on Saturday to announce the development. In a tweet he said, “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.”

The development came two months after Groww doubled its valuation to $3 Bn after raising $251 Mn. The fresh round of investment was led by ICONIQ Growth, in participation with Alkeon, Lone Pine Capital, Steadfast and Groww’s existing investors Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global, and Propel Venture Partners.

The startup intended to utilse the capital to expand its reach to the under-penetrated geographies in the country, strengthen the team, scale tech infrastructure and add more financial products and services to its platform.

The Bengaluru-based startup was one among the six Indian ventures that went to achieve unicorn status in the second week of April. This was Groww’s second round of investment in 2021.

Then it had raised $83 Mn in its Series D round led by Tiger Global at a valuation of a billion dollars. The round saw participation from existing backers Sequoia India, Ribbit Capital, YC Continuity and Propel Venture Partners.

Founded by four ex Flipsters (also known as ex Flipkart employees) Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal in 2016, Groww offers direct plans for mutual funds and investing via mobile application and web platform. It also allows users to invest in stocks, mutual funds, ETFs, IPOs, and gold.

The startup at present directly competes against the likes of bootstrapped-turned unicorn Zerodha, soon-to-be turned unicorn Upstox, Delhi-based INDMoney, among others.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Microsoft CEO Satya Nadella Invests In Indian Fintech Unicorn Groww-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Microsoft CEO Satya Nadella Invests In Indian Fintech Unicorn Groww-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Microsoft CEO Satya Nadella Invests In Indian Fintech Unicorn Groww-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Microsoft CEO Satya Nadella Invests In Indian Fintech Unicorn Groww-Inc42 Media
Microsoft CEO Satya Nadella Invests In Indian Fintech Unicorn Groww-Inc42 Media
You’re in Good company