Cooley LLP advised Groww on the deal, and AZB & Partners advised investor Tiger Global Management
Bangalore-based Groww, an online investment platform, announced its $83 million Series D financing round, which brings the company’s valuation to more than $1 billion.
Tiger Global led the round, which also included participation from existing investors Sequoia Capital India, Ribbit Capital, YC Continuity and Propel Venture Partners. Groww will use the new capital to expand its product suite, hire top-quality talent and invest heavily in financial education awareness.
Groww allows users to invest in stocks, mutual funds, exchange traded funds, IPOs, systematic investment planning, equity-linked savings and gold. The startup has amassed more than 15 million registered users, two-thirds of whom are first-time investors, offering every fund that is currently available in India.
The Cooley team included Matthew Bartus (Picture), Rishab Kumar, Xinwei Li, Christopher Kimball, Blake Martell, Kristin O’Hanlon and Jonathan Rivinus.
The AZB & Partners team was led by partners Ashwath Rau, Srinath Dasari, Bhuvana Veeraragavan and senior associate Karishma Dugar.
Involved fees earner: Srinath Dasari – Azb & partners; Karishma Dugar – Azb & partners; Ashwath Rau – Azb & partners; Bhuvana Veeraragavan – Azb & partners; Matthew Bartus – Cooley LLP; Christopher Kimball – Cooley LLP; Rishab Kumar – Cooley LLP; Xinwei Li – Cooley LLP; Blake Martell – Cooley LLP; Kristin O’Hanlon – Cooley LLP; Jonathan Rivinus – Cooley LLP;