Online investment platform Groww has launched a financial education initiative, ‘Ab India Karega Invest’, to bridge the knowledge gap of investors.
As part of the initiative, the Groww team will tour 52 select cities in 52 weeks and conduct conferences to explain the nuances of investing. The city meets are focussed towards creating a knowledge-sharing platform for industry players and aspiring investors as well as to foster local investor communities.
According to Groww, 60% of registered users hail from tier II and tier III cities.
As a pilot campaign, Groww previously held meets in Lucknow, Jaipur and Patna and the response led to the extension of the campaign pan-India.
Lalit Keshre, Co-founder and CEO, Groww, said, “The penetration of financial services in India is really low beyond metros. Groww is making investing accessible to millions of people in India with a sharp focus on customer experience. For us, there are no boundaries. This programme helps us in multiple ways, but the biggest one is to closely engage with aspiring investors spread across these cities.”
Groww now operates on an entirely paperless, end-to-end transaction model in more than 800 cities across India, catering to 40 lakh plus users. Currently, it offers zero-commission direct mutual funds without charging a subscription, or any other additional fees. The Groww app has a 4.6 rating on Google Play Store, thanks to the seamless and intuitive user experience. Groww is planning to venture into stocks and other investments products in 2020
Four ex-Flipsters, Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, started Groww together to make investing simple for millions of users in India. It offers direct mutual funds on its platform with more than 40 lakh registered users. Headquartered in Bengaluru, the company is backed by various investors, including Sequoia India, Y Combinator, Ribbit Capital, Propel Venture, and Kauffman Fellows.