Microsoft Corp Chairman and CEO Satya Nadella has joined Indian fintech Unicorn Grow as a new investor and advisor. However, the financial details of the transaction could not be immediately ascertained.
“Groove gets one of the best CEOs in the world as an investor and advisor. Grove’s Chief Executive Officer (CEO) and Co-Founder Lalit Keshare tweeted on Saturday: “Our mission to make financial services accessible in India Excited to join @satyanadella in this mission.”
Nadella took over as CEO of Microsoft from Steve Ballmer in 2014 and was also appointed as chairman of the billionaire Bill Gates-floated company in June last year.
Wealth management and investment platform Grow raised $83 million in April 2021 as part of its Series D round led by Tiger Global, valuing the company at a little over $1 billion. In October, it raised an additional $251 million in its Series E funding led by IconiQ Growth, raising its valuation to nearly $3 billion.
Five Year Grow is an investment platform that allows users to invest in direct mutual funds, exchange traded funds (ETFs), stocks and IPOs. It also provides tools for stock and portfolio analysis for investors.
Currently, the company claims to have over 20 million users on its platform, with 70% of its investors coming from Tier 2 and 3 geographies. Its nearly 2 million users are taking advantage of Grow’s platform to invest in stocks. Grow started stock investing on its platform in July last year.
The company recently launched Futures and Options, Investment in Initial Public Offerings (IPO) and Sovereign Gold Bonds on its platform. It was also considering for its investors to start investing in US-based stocks.
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