introduction of Groww
The Story of Groww’s Journey
Groww is an Indian investment platform founded in 2016 that allows users to invest in mutual funds, stocks, and other financial products online. The platform aims to make investing simple and accessible for everyone, regardless of their level of financial knowledge or experience. Groww offers a user-friendly interface that allows users to browse and compare different investment options, track their investments, and monitor their portfolio performance. The platform also provides a range of educational resources, including articles, videos, and courses, to help users learn more about investing and make informed decisions. Groww has grown rapidly since its launch and has attracted millions of users who trust the platform to help them achieve their financial goals.
|Headquarter||Bangalore, Karnataka, India|
|Industry||Financial technology, Investment, Mutual Fund|
|Founders||Lalit Keshre (CEO), Harsh Jain, Neeraj Singh and Ishan Bansal|
|Valuation||$3 billion (November 2021)|
|Total Funding||$393.3 mn (November 2021)|
|Operating Revenue||$7 mn (INR 52.7 crore in FY21)|
Groww is an Indian investment platform that was founded in 2016 with the goal of simplifying the investment process and making it more accessible to everyone. The platform allows users to invest in mutual funds, stocks, and other financial products online through a user-friendly interface. Groww provides a wide range of investment options to its users, including direct mutual funds and stocks, as well as a variety of educational resources to help investors make informed decisions. The company has grown rapidly since its launch and has attracted millions of users who rely on the platform to help them achieve their financial goals. Groww’s success has been driven by its focus on customer satisfaction and its commitment to innovation and technological advancement.
Groww – Logo and tagline
The company’s tagline affirms that there is only one correct approach to investing. Its primary objective is to simplify the investment process for its clients. Investors have the option to select from an array of mutual funds, as well as invest in various schemes with market capitalizations that vary.
Groww – Founders
Founded in 2016 by four former Flipkart employees – Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww has a goal to simplify the investment process and make it more accessible to younger generations. The DIY (Do It Yourself) model, in which individual investors establish and manage their own investment portfolios, is favored by most millennials.
Lalit Keshre is one of the co-founders of Groww, an Indian investment platform that was founded in 2016. Prior to starting Groww, Keshre worked as a Senior Manager at Flipkart, an Indian e-commerce company. Along with his co-founders, Keshre aimed to simplify the investment process and make it more accessible to young people through the platform’s user-friendly interface and educational resources. Today, Groww has become one of the leading investment platforms in India, with millions of users who trust the platform to help them achieve their financial goals.
Popularly known as the Co-founder and COO of Groww, Harsh Jain was an IIT Delhi student from where he completed his Masters of Technology in Information and Communication Technology. Jain also has an MBA in Product Management and Marketing Technology from the UCLA Anderson School of Management.
Ishan Bansal is another Co-founder of the company. Bansal was a student of BITS, Pilani, from where he completed his BTech in Mechanical Engineering. He has been a Charter Holder from the CFA Institute. Bansal also has an MBA degree in Finance from XLRI Jamshedpur. Ishan Bansal started his career in ICICI Securities. He eventually left the company and joined Naspers Limited as a Manager. Flipkart was the next company that he joined where he was in Corporate Development. After his brief stint with Flipkart, Ishan opted to co-found Groww.
Neeraj Singh is known as the Co-founder and CTO of Groww. Neeraj is a Bachelors’ in Information Technology from ITM University, Gwalior. He then opted for a Post Graduate Diploma in Advance Computing from C-Dac. Singh initially joined JDA Software as a Software Engineer and then opted for Ivy Computech as his company in which he started as a Senior Software Engineer. He eventually joined Flipkart in the SDE department and eventually decided to co-found Groww with the other founders.
Mission and Vision of Groww
Groww is on a mission to democratize access to financial services for millions of Indians responsibly.
Groww – Business Model
Groww does charge a small fee, but it is paid by the mutual fund company, not the client. Although they profit from the funds they sell, the process is complex.
There are two types of mutual fund investments: regular and direct. In the regular mode, a distributor is involved, and the investor must pay a commission to the distributor. This commission compensates the distributor for their investment and profits.
Apps like Groww, however, offer investors a direct investment opportunity by combining various funds and companies on a single platform, providing a broad range of options.
For a fintech company like Groww, expanding the customer base is crucial. By leveraging technology to target the appropriate audience, Groww lowers its operating costs. Customers seldom switch between such applications, and once the correct customer base is established, they are likely to remain loyal.
Thanks to its advanced technology, Groww allows users to invest in mutual funds and equities from anywhere in the world. With just a few clicks, anyone can become the owner of a particular stock or mutual fund.
Groww – Awards
Some of the awards that Groww received to date are:
- 2017-18: BSE Star MF award for Karnataka’s 2nd best performer in the RFD category.
- 2017-2018: 3rd place in the BSE Star MF Fintech – Highest Transactions competition. 2017-2019
- 2018-19: BSE Star MF Fintech – Highest Transactions 2018-19: 1st position
Groww – marketing strategy
Groww’s marketing strategy is centered around making the investment process as simple and accessible as possible for their target audience, which is primarily young, tech-savvy investors. The company uses a combination of online and offline marketing tactics to reach its target audience, including:
Social Media Marketing: Groww actively uses social media platforms such as Facebook, Twitter, Instagram, and LinkedIn to engage with their target audience and promote their services.
Content Marketing: Groww creates and shares a wide range of educational content, including blog posts, videos, and podcasts, to help users understand the basics of investing and make informed decisions.
Influencer Marketing: Groww collaborates with popular influencers in the finance and investment industry to reach a wider audience and build trust with potential users.
Referral Marketing: Groww incentivizes its users to refer their friends and family to the platform by offering them rewards such as cashback or discounts on their investments.
Offline Events: Groww organizes various offline events such as investor meets, workshops, and seminars to educate people about investing and attract new users.
Overall, Groww’s marketing strategy is focused on building a strong brand image, establishing trust with potential users, and providing them with the tools and resources they need to achieve their investment goals.
Groww – Competitors
Groww is a popular investment platform in India that allows users to invest in various financial instruments such as mutual funds, stocks, and more. Some of the competitors of Groww in the Indian market include:
Zerodha: Zerodha is a discount brokerage firm that provides a range of investment options such as stocks, mutual funds, commodities, and more. It also offers a platform for online trading and investment.
Paytm Money: Paytm Money is a digital investment platform that allows users to invest in mutual funds, stocks, and gold. It also offers features like portfolio tracking, personalized recommendations, and more.
Upstox: Upstox is another discount brokerage firm that offers online trading and investment services. It allows users to invest in stocks, mutual funds, and other financial instruments.
ET Money: ET Money is an online investment platform that provides users with a range of investment options such as mutual funds, stocks, and fixed deposits. It also offers features like portfolio tracking, goal-based investments, and more.
Scripbox: Scripbox is a robo-advisory platform that provides users with personalized investment advice and allows them to invest in mutual funds. It also offers features like automated portfolio rebalancing, tax-saving investments, and more.
These are some of the popular competitors of Groww in the Indian market. However, each of these platforms may have unique features and benefits, so it’s important to research and compare before choosing an investment platform that suits your needs.
Groww – Future Plans
Groww is gearing up to launch several new financial products, including deposits, US equities, sovereign gold bonds, Futures & Options, and other derivative products, in the coming months. The company has always placed a strong emphasis on financial education, and plans to introduce a host of new educational projects designed specifically for millennials over the next two years. Between September 2020 and April 2021, Groww managed to attract around 7 million customers, with 60% of them coming from Tier 2 cities and beyond. Going forward, Groww aims to continue its expansion in these areas, as well as in Tier 3 cities.
Groww vs Zerodha
Groww and Zerodha are both popular online investment platforms in India, but there are some key differences between the two.
Groww is primarily a mutual fund investment platform that allows users to invest in a range of mutual funds offered by various asset management companies. It also offers direct equity trading, gold investments, and other financial products. Groww places a strong emphasis on simplicity and ease of use, making it an ideal choice for beginner investors.
On the other hand, Zerodha is a discount brokerage firm that allows users to trade in equities, commodities, and currencies, as well as invest in mutual funds and bonds. Zerodha offers a wide range of trading tools and platforms, including its own trading platform called Kite, which is designed for active traders and investors who require advanced charting and analytical tools.
In terms of pricing, Groww offers free mutual fund investments, with no account opening or maintenance fees. Zerodha, on the other hand, charges a fixed brokerage fee of Rs. 20 per trade, regardless of the size of the trade.
Ultimately, the choice between Groww and Zerodha will depend on your investment needs and preferences. If you’re looking for a simple and user-friendly platform for mutual fund investments, Groww might be the better choice. If you’re an active trader or require advanced trading tools, Zerodha might be more suitable for your needs.
1 .is groww app safe to invest?
Yes, Groww demat accounts are safe as all demat accounts are opened with Central Depository Services Limited(CDSL). Groww acts as only an intermediary between the customer and the central depository.
2. Can I invest 100 rs on Groww?
The minimum SIP Investment is set to ₹100
3. Which is better Zerodha or Groww?
While Zerodha and Groww, both are online discount brokers, Zerodha is better than Groww on the following counts: Zerodha is the pioneer of the discount broking business in India. Zerodha offers brokerage-free Equity Delivery trading. Zerodha allows to trade in Currency as well as Commodities along with Equity and F&O.
4. What is the mission statement of Groww?
Every decision we make is centered around our customer’s needs and convenience. Be it our app, website, or services – we strive to keep making things simpler. We want our customers to be completely aware of everything to do with their investments. Whatever we do is always crystal clear.
5. What is the actual name of Groww?
Groww is the brand name for Nextbillion Technology Private Limited who is a SEBI registered stockbroker and a member of NSE and BSE. Established in 2016, Groww initially started as a direct mutual fund investment platform.