Groww receives Rs 50 Cr from the parent entity
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Mutual fund and stockbroking app Groww has received Rs 49.9 crore in an equity funding round from its parent entity, Billion Brains Garage Ventures Private Limited. The tranche seems to be a part of its $21.4 million worth Series B round led by Ribbit Capital. According to regulatory filings, the Bengaluru-based company has allotted 2.5 lakh CCPS at an issue price of Rs 1,986 per share to raise the total consideration of Rs 49.9 crore.