Wealthtech unicorn Groww has closed a Series F round of Rs 1,735 crore (about $200 million) led by Singapore’s GIC and existing backer ICONIQ Capital, according to media reports.
The Series F round values the Bengaluru-based company at $7 billion, a sharp jump from the $2 billion valuation it reportedly fell to during its domicile shift to India in 2024, reports said.
The latest round brings Groww’s total funding to nearly $600 million. Its cap table includes Peak XV Partners, Tiger Global, Ribbit Capital, Y Combinator Continuity, and Propel Venture Partners.
The funding comes on the heels of Groww confidentially filing draft IPO papers with India’s markets regulator SEBI last month, using the pre-filing mechanism. The company is reportedly targeting a $700 million–$1 billion IPO via a 10% equity dilution, with both primary and OFS components.
Groww competes with Zerodha, Upstox, and Angel One in India’s digital investment platform space. The company reported revenue of Rs 3,145 crore and a net loss of Rs 805 crore in FY24, the latter driven by a one-time tax charge related to its relocation from the US to India, according to
Founded in 2016, Groww became a unicorn in 2021 after its Series D led by Tiger Global, and has grown rapidly in India’s retail investing boom.
