Groww is a prominent online investment platform. The Groww App and its services are available free of charge to its users and allow the investors to transact in mutual funds, stocks, US stocks, and digital gold with ease and safety.
Groww is a startup headquartered in Bengaluru and was founded in 2016 by former Flipkart employees- Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bhansal. Only recently, Groww expanded its stock market services with its parent entity, ‘Next Billion Technologies’ being an authenticated broker of the BSE.
Who can Use Groww App?
Groww app is available on the Google Play store. The app and its services are free of cost and are suitable for new, experienced, and millennial investors. As of now, Groww claims to have more than a million registered members. The majority of its members fall in the age group of 20-40 years.
Why Use Groww?
Groww claims to provide the following benefits to its users:
- The Groww app and its services are simple, transparent, and are available free of charge to its users. Groww does not give recommendations and gives the freedom to its users to choose their portfolio based on the information available. Investors can also choose the SIP option.
- Groww is suitable for both new and experienced investors. It provides a safe and hassle-free platform. Routine and stringent safety checks are carried out to ensure the safety of the transactions. Groww does not charge any commission on its transactions. The platform only serves as an intermediary and all transactions are routed through BSE.
- The app and its services are supported by world-renowned investors such as Ribbit, Sequoia, Kauffman Fellows, and so on. It is led by a team with vast experience in technology and finance.
- Groww was initially launched to provide only regular plans. But from 2018 onwards, it has switched to direct plans. There is no distributor commission in direct plans.
- Groww has a feature called ‘Smart Save’. This feature is aimed at saving account holders, where the money will be stored in a liquid fund with an option for instant redemption.
- The Groww app has received consecutive awards for its performance which includes:
- 2017-18: BSE Star MF award for the 2nd best performer in the RFD category in the Karnataka state.
- 2017-18: 3rd place in BSE Star MF Fintech for the Highest Transactions in the year 2017-18 and,
- 2018-19: 1st place in BSE Star MF Fintech for the Highest Transactions in the year 2018-19
As of now, Groww is becoming a one-stop solution for all the financial management and services an investor would need. All these years, Groww has helped its customers/users effectively manage their wealth and finances.
