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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.

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The data suggests the UK housing market may be regaining some momentum after a quieter winter period.

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UK house prices climb 3 per cent as market shrugs off weak sentiment

  • UK house prices rise 3 per cent annually in April
  • Average property value reaches £278,880
  • Market recovery continues despite falling buyer confidence

UK house prices saw an unexpected lift in April, suggesting the housing market may be holding up better than many had anticipated. According to the latest data from Nationwide Building Society, annual house price growth rose to 3 per cent, up from 2.2 per cent in March. On a monthly basis, prices increased by 0.4 per cent, taking the average UK house price to £278,880.

This comes at a time when concerns around the Iran conflict and interest rate uncertainty were expected to weigh on buyer sentiment. There had been a growing view that potential homeowners would delay purchases, waiting for more favourable mortgage conditions.

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