Satya Nadella invests in homegrown fintech platform Groww
Homegrown online investment platform Groww said on Saturday that Satya Nadella, Chairman and CEO of Microsoft, has joined the company as an investor and advisor.
IANS
Jan 8, 2022 11:00
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New Delhi, Jan 8 (IANS) Homegrown online investment platform Groww said on Saturday that Satya Nadella, Chairman and CEO of Microsoft, has joined the company as an investor and advisor.
In a tweet, Groww CEO Lalit Keshre said: "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 added.
Microsoft or Nadella are yet to comment on this development.
Groww, however, did not reveal the amount Nadella has infused in the platform.
In October last year, Groww had raised $251 million led by Iconiq Growth, at a valuation of nearly $3 billion. The round also saw participation from investors like Alkeon, Lone Pine Capital and Steadfast.
Groww's existing investors include Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global, and Propel Venture.
Groww allows users to invest across direct mutual funds, exchange-traded funds (ETFs), stocks and IPOs. The online investment platform in May last year had announced to acquire Indiabulls Mutual Fund for Rs 175 crore.
The digital platform acquired Indiabulls Asset Management Company (IBAMC) and the trustee company for Rs 175 crore, which includes a cash and equivalent component of Rs 100 crore.
