Groww sees rise in new investors in Direct MF plans

India Infoline News Service | Mumbai | August 30, 2018 15:47 IST

This segment is growing very fast and we will continue to stay focused on their financial needs by expanding into other products.

Online investing platform Groww has seen a 50% month-on-month growth in new investors since it went Direct i.e. started offering Direct mutual fund plans in April this year. Adding over 15k new SIPs a month, with 1 mn+ app sessions monthly, Groww is the fastest growing online investing platform. In the last 3 months, Groww acquired more than 2 lac users, who are using Groww platform, content and the community for taking their financial decisions. Groww offers all mutual funds from 34 leading fund houses.

Lalit Keshre, CEO & Co-founder, Groww.in, says, “We are hyper-focused on our customer segment - young millennials who want to make informed financial decisions. This segment is growing very fast and we will continue to stay focused on their financial needs by expanding into other products.”

Groww plans to stay customer focused by spending time listening to customers and gaining customer insights into behavior trends among new investors. The new generation of investors are very curious and have lots of questions before they take key financial decisions. The era of black-box investing, where investors don’t know where their money is invested, is passing.

Groww is a technology company that offers a seamless and transparent approach to investing via a web platform, Android and IOS app. To educate and help new investors, Groww has built communities where experts answer all the questions before and after they invest.

Groww started operations in April 2017 and is founded by ex-Flipkart employees with rich experience in engineering, product management, finance, e-commerce and business development. The company has recently raised $1.6 mn in pre-series A round of funding from Insignia Ventures Partners, Lightbridge Partners, Kairos and others, with participation from previous investors and had raised seed funding from Y Combinator, Mukesh Bansal and Ankit Nagori.

 

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