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A Bengaluru-based investing platform, Groww has raised $21.4 million in series B round funding from U.S. based Venture Capital firm Ribbit Capital, and others.
The new round funding led by Ribbit Capital also saw the participation of some of its existing investors like Sequoia India and Y Combinator.
“Grow, which offers direct mutual funds on its platform has more than 2.5 million registered users on its platform. Will use the new round finance in hiring of staffs in engineering, product, and in growth department,” the company in its statement said.
Further adding to the statement, the company stated, “The company will also use a notable portion of the finance, to extend its tech capabilities, and to develop super-scalable infrastructure for investing.”