<article>Online investment platform <a href="https://www.dealstreetasia.com/?s=Groww" target="_blank" rel="noopener">Groww</a> on Wednesday announced that it has raised $6.2 million in a Series A round of funding led by <a href="https://www.dealstreetasia.com/?s=Sequoia India" target="_blank" rel="noopener">Sequoia India</a>.</article>

Online investment platform <a href="https://www.dealstreetasia.com/?s=Groww" target="_blank" rel="noopener">Groww</a> on Wednesday announced that it has raised $6.2 million in a Series A round of funding led by <a href="https://www.dealstreetasia.com/?s=Sequoia India" target="_blank" rel="noopener">Sequoia India</a>.
<a href="https://www.dealstreetasia.com/?s=Y Combinator" target="_blank" rel="noopener">Y Combinator</a>, Propel Venture Partners and Kauffman Fellows also participated in the round.
The announcement comes seven months after the startup raised $1.6 million in a pre-series A round from investors including Insignia Ventures Partners, Lightbridge Partners and Kairos in July last year. It raised an undisclosed amount in seed funding from Y Combinator, Myntra founder Mukesh Bansal and former Flipkart CBO Ankit Nagori in January last year.
The funds raised in the latest round will be used to build technology to scale, and launch new products targeting the young, Groww said in a statement.
&#8220;Millennials are increasingly moving towards financial products instead of real estate and gold. Our goal is to become the wealth app for the younger generation. There are 200 million people with investable income in India, but only 20 million investors. The only way to bring the next 180 million onboard is by making investing simple,&#8221; said Lalit Keshre, co-founder &amp; CEO, Groww.
&#8220;We want to create a platform that has all possible investment solutions within a tech-enabled, easy-to-use interface &#8211; and all this, while providing the best-in-class user experience above all else. That is the fundamental premise of our offering,&#8221; he added.
Launched in April 2017, Groww is the brainchild of ex-Flipkart employees Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal. It currently offers direct mutual fund investment plans and soon plans to roll out all other investment products including stocks. The startup focuses on millennial investors and claims to have over a million users on its platform.
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<a href="https://www.dealstreetasia.com/stories/india-dealbook-198-91336/">India Dealbook: eKincare, Groww, The Wedding Brigade raise funds; PeopleStrong acquires Grownout</a>

The funds raised in the latest round will be used to build technology to scale, and launch new products targeting the young.

Sequoia India leads $6.2m funding in investment platform Groww

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Sequoia India leads $6.2m funding in investment platform Groww

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