Direct plan distributor Groww has received the backing of Microsoft CEO Satya Nadella. The Indian-origin CEO has invested an undisclosed amount in the Bengaluru-based startup and also joined it as an advisor.
Groww's co-founder and CEO Lalit Keshre shared the news on Twitter. "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," he said.
According to the company, the online investment platform for mutual funds and stocks has a user base of over 20 million.
The startup counts Ribbit Capital, Sequoia Y Combinator, Tiger Global, Propel Venture Partners among its investors.
The company raised two rounds of investment in 2021. Its valuation tripled between the two rounds. While the first $83-million round in April valued the company at $1-billion (Rs. 7400 crore approx.), the next round in October valued the company at $3 billion (Rs. 22,500 crore approx.).
