Iconiq Growth led a $251m Series E funding round in Groww.

Iconiq Growth, a private equity firm, led a $251m Series E funding round in Groww, a wealth management and investment platform. Additional investors include Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global, Propel Venture Partners, Alkeon, Lone Pine Capital and Steadfast. Groww is expected to use the proceeds from the latest round to expand its technology infra and widen its reach to under-penetrated regions. It will also be using the funds to continue making significant investments in creating financial education and awareness about investment products. “Groww is already among the leading investment platforms in India, showcasing strong unit economics and customer cohorts. We are excited to participate in its vision to be the primary financial platform for Indian consumers," Yoonkee Sull, Iconiq Growth Partner.