Groww plans to expand market for digital investing: Fintech

Fintech unicorn Groww is planning to expand the market for digital investing along with it's educational initiative, Groww Academy in the coming days.

The company backed by Ribbit Capital, YC Continuity Fund, and Propel Ventures along with Tiger Global and Sequoia aims to launch derivative investing, futures, and options trading and also aims to help users invest in government bonds, securities, and US stocks, adding that the company plans to double its team size to almost 1,000 by April 2022.

Harsh Jain, Co-founder and Chief Operating Officer of Groww, believes that broking in 2021 is not only about giving investors a platform to invest but also providing them educational resources so that they can understand the world of investing and are empowered enough to make their own decisions.

According to industry estimates, Bengaluru-based startup, which launched broking operations in May 2020, already has around nine lakh active client accounts, with around 1.5 lakh additions every month, on average. It recently attained a unicorn status after it raised $83 million in a Series D funding round in April 2021.