Hidden Startup Secrets of Groww | Groww Business Model

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Groww is a brokerage firm based in Bangalore that offers online discount brokerage services for a flat fee. || Groww Business Model

If you do investing or have a knowledge regarding investment then you be definitely knowing about the Groww platform which is an investment platform and stock broker where you can do your investment in a very systematical way. 

Company Details

City: Bengaluru
Founders: Harsh Jain, Ishan Bansal, Lalit Keshre, Neeraj Singh
Founded: 2017
Industries: Financial Services, FinTech, Funding Platform, Impact Investing
Number of employees: 251-500
Revenue: Rs 427.2 Cr (FY22)
Funding amount: $142,262,674
Official Website: groww.in

And if you go through the app then you also would find it really simple and easy to understand application. 

Groww Startup Story

Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, four former employees of Flipkart, established Groww in 2016 with the aim of making investing more accessible to young people by simplifying the process. Learn More Licious Business Model

Many millennials prefer a DIY (Do It Yourself) approach to investing, where they create and manage their own investment portfolios.

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Interestingly, the founders previously worked at Flipkart. During their time there, they observed the growth of the e-commerce industry and realized that investing was the next big business opportunity.

They saw that people had disposable income and needed help investing it, as the e-commerce boom was accompanied by an increase in average income and technological advancement.

The founding team spent a lot of time studying the market and figuring out the users’ fundamental pain points when they started looking at Indian financial possibilities for interested consumers.

Groww Founders

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Groww Founders – (L to R) Neeraj Singh, Harsh Jain, Lalit Keshre and Ishan Bansal

Lalit keshre

Lalit Keshre is the co-founder and CEO of Groww. He studied Microelectronics and Btech Electrical Engineering at IIT Bombay. 

During his time at IIT Bombay, he was responsible for the engineering and product of IITiam Systems. After obtaining his degree, he founded Eduflix.

Harsh Jain

Harsh Jain, who is the Co-Founder and COO of Groww, earned his Masters of Technology in Information and Communication Technology from IIT Delhi. 

He also has an MBA from the UCLA Anderson School of Management, specializing in Product Management and Marketing Technology.

Neeraj Singh

Neeraj Singh is the co-founder and CTO of Groww. He has a Bachelor’s degree in Information Technology from ITM University, Gwalior and a Post Graduate Diploma in Advanced Computing from C-DAC. 

Singh started his career as a software engineer at JDA Software and later joined Ivy Computech as a senior software engineer. 

He joined Flipkart in the SDE department before co-founding Groww with the other founders.

Ishan Bansal

Ishan Bansal is also a co-founder of Groww. He graduated with a BTech in Mechanical Engineering from BITS Pilani. 

He is a Charter Holder from the CFA Institute and has an MBA in Finance from XLRI Jamshedpur.

Groww Business Model

The founders noticed issues with the Indian investment culture, with only 20% of the 200 million people with investable income actively investing. 

They saw this as an opportunity to bring the other 180 million people into investing by making it easier. This idea led to the creation of the Groww app. Learn More CRED Business Model

Groww was launched as a platform for direct mutual fund distribution and has since become one of the most popular mutual fund investment platforms in the country. 

In response to consumer demand, Groww added stocks in the first half of 2020. The following year, it rapidly introduced digital gold, ETFs, intraday trading, and IPOs.

Groww is a brokerage firm based in Bangalore that offers online discount brokerage services for a flat fee. 

It helps with direct stock, IPO, and mutual fund investments. It operates under the name of Nextbillion Technology Private Limited and is a registered brokerage with SEBI

NTPL is a member of both the NSE and BSE.

  1. NSE: The National Stock Exchange (NSE) is a stock exchange located in Mumbai, India. It is the largest stock exchange in India by market capitalization and trading volume. NSE was established in 1992 and operates as a market-driven, electronic exchange providing a transparent, fair, and efficient platform for trading in a wide range of securities including equities, derivatives, currency, and debt instruments.
  2. BSE: The Bombay Stock Exchange (BSE) is a stock exchange located in Mumbai, India. It is one of the oldest stock exchanges in Asia, having been established in 1875. BSE is the first stock exchange in the country to be recognized as a stock exchange under the Securities Contracts Regulation Act, 1956.

The founders faced challenges in the beginning, but now Groww has over 1.5 crore users across 900 cities in India.

Fact About Groww App

The founders of Groww had several key factors in mind to make the platform successful. One of which is that over 60% of Groww’s users come from smaller cities and towns in India. 

The company holds workshops in these areas to educate people about investing.

Their aggressive marketing strategies have contributed to the growth of the platform. Although Groww charges a small fee, it is paid by the mutual fund company and not the client. Learn More Aman Gupta’s Marketing Strategy

They generate revenue through the sale of mutual funds, although the process can be complex.

Two Types of Mutual Fund Investments

The two types of mutual fund investments are Regular and Direct. Regular mode involves working with a distributor who earns commission based on the investment and profits made by the customer. 

On the other hand, platforms like Groww offer a direct investment option by bringing together multiple funds and companies in one place, providing more options for the customer.

The primary goal of a fintech company like Groww is to expand its Customer Base. By utilizing technology, Groww reduces its operational costs and targets the right audience. 

People are unlikely to switch between these types of programs, so once the right customer base is established, they are more likely to stay loyal to the company over time.

Due to the intense competition in the market, the company faced several challenges in the fiscal years 2019 and 2020. 

To overcome these challenges, they focused on keeping their operational costs low by utilizing technology effectively to reach their target audience. 

Groww has made stock market investing simpler and more accessible to a wider audience by creating a user-friendly application that breaks down the complexities of investing.

Groww Logo And Tagline

The Groww logo consists of two colors, green and blue, arranged in a circular design that represents an upward-trending graph. 

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The company’s tagline, “There’s just one right way,” reflects its mission to simplify the investment process for its clients by offering a range of mutual funds and investment schemes with varying market capitalizations.

Groww Advertisement and Social Media Campaigns

Investment platform, Groww has launched financial education initiative ‘Ab India Karega Invest‘, to bridge investors’ knowledge gap. it has stated that 60% of registered users registered with them hail from tier 2 and tier 3 cities. Learn More Paytm Revenue Model

The digital platform stated that, as part of the campaign, Groww team will tour 52 select cities in 52 weeks and conduct conferences to explain the nuances of investing. 

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As a pilot campaign, Groww previously held meets in Lucknow, Jaipur, and Patna, and the overwhelming reception led to the extension of the campaign pan India.

Learn More: Groww‘s new ad campaign encourages women to invest and bridge wealth gap

Groww Competitors

Groww’s competitors in the Indian investment and mutual fund market include other fintech startups like Zerodha, Paytm Money, Scripbox, and 5Paisa, as well as traditional brokerage firms like HDFC Securities, ICICI Direct, and Sharekhan.

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  • Zerodha: Zerodha is a leading Indian financial services company that provides retail and institutional brokering services. It is one of the largest discount brokers in India and offers services in equity, commodity, currency, and direct mutual funds trading. 
  • Paytm MoneyPaytm Money is one of the competitors of Groww. Paytm Money is a digital investment platform in India that offers similar services as Groww such as direct mutual fund investments, stocks, and ETFs. It also provides a user-friendly mobile application for customers to easily invest and track their portfolios. Learn More Hidden Startup Secrets Of Bharatpe
  • ScripboxScripbox is a robo-advisory platform that provides investment management services. It offers a range of investment options, including mutual funds, to individuals who seek professional advice for their investments. Scripbox uses algorithms to create personalized portfolios for its clients based on their investment goals and risk tolerance. The platform operates on a low-cost, direct-to-consumer model, making it an attractive option for budget-conscious investors.
  • 5Paisa5Paisa is an Indian online brokerage firm that provides a platform for trading in stocks, derivatives, mutual funds, and other financial instruments. It is a competitor to other fintech companies in the Indian investment and trading market, including Groww.   
    5Paisa offers its services through a user-friendly website and mobile application, and aims to make investing accessible and convenient for all types of investors.
  • Angel OneAngel Broking is an Indian multinational conglomerate company that provides financial services and is a stockbroker company. It was established in 1987 and has its headquarters in Mumbai, India. Angel Broking provides financial services like broking, investment, and other related services. The company offers services to retail and institutional clients through its various branches, online trading platforms, and mobile applications.

Groww Mergers and Acquisition

Groww has received funding from leading investors such as Tiger Global Management, Y Combinator Continuity Fund, Ribbit Capital, and Sequoia Capital India. 

The company raised Rs 6.2B in its series D funding round, led by Tiger Global Management, in April 2021. To date, Groww has raised a total of $142.7M across 6 funding rounds.

Join me on Groww to invest in Stocks and Direct Mutual Funds.

Create your Free Demat Account by using this link here⤵

How to use Groww App?

The Groww app is a user-friendly investment platform that allows you to invest in mutual funds, stocks, and other financial instruments. 

Here are the general steps to use the Groww app: 

  • Download the app: You can download the Groww app from the App Store or Google Play Store. 
  • Create an account: Once you have downloaded the app, you will need to create an account by providing your personal information and setting a password. 
  • Verify your account: You may need to verify your account by providing additional information or documents, such as your PAN card. 
  • Choose an investment option: The app offers a range of investment options, including mutual funds and stocks. You can browse the options and choose the one that best fits your investment goals. 
  • Make an investment: After choosing an investment option, you can make an investment by providing the amount you want to invest and completing the payment process. 
  • Monitor your investments: Once you’ve made an investment, you can monitor its performance through the app. You can also choose to sell your investments or make additional investments as needed. 
  • Use additional features: The app also offers additional features such as a SIP calculator, investment news and articles, and a wealth management service.

How to Stop SIP in Groww?

To stop a SIP (Systematic Investment Plan) in Groww, you need to follow these steps: 

Open the Groww app and log in to your account. 

Go to the ‘Investments’ section and select the SIP you want to stop. 

Once you have selected the SIP, you will be directed to the details page of the SIP. 

Here, you can see the current status of your SIP.

To stop the SIP, tap on the ‘Stop SIP’ button. 

You will then be asked to confirm that you want to stop the SIP. Tap ‘Confirm’ to proceed. 

Once you have confirmed, the SIP will be stopped, and you will receive a confirmation message. 

Please note that stopping a SIP before its maturity date may result in financial losses or penalties, so you should carefully consider your decision before stopping a SIP. 

Also, keep in mind that it may take up to 30 days for the SIP to be stopped, and you may still receive one or more SIP installments during this period.

What is Stock Margin in Groww?

In Groww, stock margin refers to the amount of funds that you need to have in your account to trade on margin or to take a leveraged position in the stock market. 

It is the difference between the actual value of the shares you want to buy or sell and the amount you need to pay or receive at the time of the transaction. 

For example, if you want to buy shares worth Rs. 10,000 with a margin of 50%, you will need to have Rs. 5,000 in your account. The remaining Rs. 5,000 will be provided by the broker as a loan or leverage. 

In other words, margin trading allows you to trade with more money than you actually have in your account, which can magnify your gains or losses. 

However, it is important to note that margin trading involves higher risk and is suitable for experienced traders who understand the risks and potential rewards involved. 

Groww offers margin trading services, and you can check the margin requirements for different stocks on the app. However, to trade on margin, you need to have a trading account with one of Groww’s partner brokers and fulfill the eligibility criteria.

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