Groww hopes to raise $250 million valuing the company at $3 billion

A report claims Groww plans to raise $250Mn at a valuation of $2-3 Bn in the wake of raising $83Mn in its Series D round in April. Tiger Global, Coatue, and TCV are reportedly co-leading the funding round, and Insight Partners may also consider investing in the startup.

Founded in 2017 by former Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansa, Groww provides users with direct investing plans for mutual funds through its mobile app and web platform. The company also offers gold provisions, stocks, ETFs, and IPOs through its platform. Indiabulls' mutual fund business, which is 13 years old, was also acquired for INR 175 Cr by the insurtech startup earlier this month.

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