Skip to content
Search

Latest Stories

Satya Nadella joins India's Groww as investor, adviser

Satya Nadella joins India's Groww as investor, adviser

TIGER GLOBAL-backed Groww said Microsoft chief executive officer Satya Nadella has joined the company as an investor and advisor.

"Groww gets one of the world's best CEOs as an investor and advisor. Thrilled to have @satyanadella join us in our mission to make financial services accessible in India," Groww's co-founder and CEO Lalit Keshre tweeted on Saturday (8).

However, he didn't disclose the financial details of the investment.

Groww had raised $251 million (£184.76m) in October last year in a funding round led by Iconiq Growth, which valued the mutual fund and stock investment platform at $1 billion (£740m).

The funding round also saw participation from investors like Alkeon, Lone Pine Capital and Steadfast.

Groww's existing investors Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global and Propel Venture also participated.

In April 2021, the digital firm had raised $83m (£61m) in a funding round led by Tiger Global.

Groww enables users to invest in stocks, mutual funds, ETFs, IPOs and Gold.

Started in 2017, it claims to have more than 15 million registered users.

More For You

England and Wales councils

The government's "fair funding review 2.0," expected on December (17) will determine how funding is allocated

iStock

England and Wales councils warn of bankruptcy as funding reaches 'breaking point'

Highlights

  • 29 councils already unable to meet financial obligations without emergency government loans.
  • London boroughs face £1bn shortfall this year, with half potentially requiring bailouts by 2028.
  • Government's "fair funding review 2.0" expected December (17) will determine council allocations.

Local authorities across England and Wales have warned their finances are at "breaking point," with more councils expected to declare bankruptcy as they await crucial government funding announcements this month.

Council leaders anticipate changes to annual funding arrangements will result in steep cuts for many authorities, preventing them from balancing budgets and providing basic services to residents.

Keep ReadingShow less