The company believes in constant improvement, maintaining transparency, and adopting a feedback-oriented approach to provide better services to its customers as per customer needs and convenience.
Groww is an online stockbroker with no branches. The company offers a proprietary trading platform Groww for trading and investment.
Next Billion Technology Private limited, the company behind Groww, is a SEBI registered broker and a depository participant with CDSL. It is a member of BSE and NSE. As a member of stock exchanges, the transactions of the company get scrutinized at regular intervals.
About Groww
The following are some of the key facts you should know about Groww.
- Next Billion Technology Private Limited is the company behind Groww.
- Incorporated in 2016 as a direct mutual fund platform.
- Allowed Equity Stocks Investments for investors in June 2020.
- India's fastest-growing investment platform with 90 lakh+ users.
- Expansion plans to include US Stocks, Digital gold, and Fixed Deposits in the product suite.
- No branches.
- No advisory services.
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Why is Groww safer than other brokers?
Groww started as a mutual fund investment platform and is very new in the Equity stockbroking space. Hence, we may not be able to assess the company based on a client to complain ratio and regulatory violations. However, let us have a look at a few other parameters which tell us about the safety of the broker.
- No Margin Funding
Groww does not offer the risky product of margin funding to customers for trading.
- Trusted by millions of Indians
Starting in 2016 with the mutual fund as the only offering, Groww has earned 90 lakhs+ users across India in such a short span. The healthy client base reflects the trust of the customers over the years
- Trusted by world-class investors
Groww has strong backing from world-class investors - Ribbit Capital, Sequoia, Combinator, Kauffman Fellows, Propel, and Kairos. The investments by such big investors in the company mean that the investors have high confidence in the management of the company. Also, the funding shows that the company is serious about its expansion plans and is thinking long-term.
- Customer First Approach
Groww believes in making decisions bearing in mind customer needs and convenience.
- Simple Pricing Model
Groww has one single brokerage rate for all its customers. Having a single rate for all customers reduces the operational risks significantly.
- No advisory services
Groww publishes a lot of content and information related to capital markets for educational and awareness purposes. However, Groww never offers any advice, tips, or recommendations to its customers. The company offers only online trading services. Thus, there is no conflict of interest or financial motive to push a particular product to the customers.
- Safe and Secured trading app
Groww trading app is a safe and secured app with a high level (128-bit) of encryption that protects customer data and transactions.
Groww Risks
While Groww is a safe broker, one must be aware of the fact that Groww undertakes proprietary trading in addition to client-based business. Thus, the customers should be aware of this disclosure and should be careful while assigning any PoA to the broker.
Groww Memberships
Groww is registered with SEBI as a Stock Broker and a Depository Participant in the name of Next Billion Technology Private Limited. The company is also a member of leading stock exchanges like NSE and BSE, MCX, and NCDEX. Groww's various membership details are as follows:
- Member : BSE (CM, F&O, MF Distributor), NSE (CM, F&O)
- Groww SEBI Registration no.: INZ000208032
- Groww BSE distributor code number: 11724
- Groww AMFI Registration no.: 111686
- Groww CDSL SEBI Registration No: IN-DP-417-2019
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Conclusion
Groww is a safe, reliable, and trusted stockbroker in India. The company is a genuine stockbroker with all required certifications and memberships. The company is also looking forward to expanding its product offerings to help customers diversify their investments across multiple asset classes. As a customer, you can rely on the company to be fair and consider your money to be safe with Groww as with any other leading stockbroker
- About Groww's Founders
- Lalit Keshre - Co-founder & CEO
Lalit heads the operations and overall business at Groww. Before starting Groww, Lalit was in a senior product role at Flipkart, where he launched and led Flipkart Quick and was part of Flipkart Marketplace. Lalit graduated from IIT Bombay in Microelectronics and has more than 10 years of experience in building products as a founder, product manager and engineer.
- Harsh Jain - Co-founder & COO
Harsh Jain handles Growth and customer acquisition at Groww and is also an AMFI registered Mutual Fund Advisor. Prior to Groww, Harsh was associated with the product team at Flipkart as a product manager where he built products for Flipkart marketplace and logistics. Harsh is a B-Tech graduate in Electrical Engineering stream and holds a Masters in Information and Communication Engineering degree from IIT Delhi. He has done his MBA in product management and marketing from UCLA.
- Neeraj Singh - Co-founder & CTO
Neeraj handles product development and customer research at Groww. Prior to Groww, Neeraj was with Flipkart as an engineering manager where he built the Flipkart customer returns and refund system. Neeraj is a BE graduate in Information Technology from ITM, Gwalior and holds a PG Diploma in Advanced Computing from CDAC.
- Ishan Bansal - Co-founder and CFO
Ishan heads Finance at Groww. Before Groww, Ishan was in the corporate development domain with Flipkart. He has also handled corporate development and M&A at IbiboGroup/ Naspers in India. Ishan is a BITS Pilani graduate and holds an MBA in Finance from XLRI, Jamshedpur and is also a CFA Charterholder.
- Lalit Keshre - Co-founder & CEO
8. Is Groww app good for stocks?
Grow app offers fast, smooth, safe, and secure trading experiences to its users to invest/trade in stocks and mutual funds.
Groww App Key Features
- Instant and paperless account opening.
- Clean and simple user interface
- Safe and secured app with a high level of encryption standard.
- One-click order-placement.
- Candlestick charts that show historical performance and price movements.
- Information of all the listed companies.
- Latest news and insights, resources, blogs, videos, and content related to financial markets.
- Quick query resolution.
Groww charges a lower of Rs. 20 or 0.05% as the brokerage for Equity and Rs. 20 for F&O. The company offers free account opening with zero maintenance charges for the Demat account. Along with Equity Stocks, Groww also provides to invest in US stocks and US ETFs.
9. Is Groww app safe for mutual funds?
Yes, the Groww app is safe and secure for mutual fund investments.
Groww is a registered SEBI broker and, an AMFI registered mutual fund distributor. Hence all its transactions are constantly monitored and reviewed by SEBI, ruling out any foul play. Moreover, the Groww mutual fund transactions are done via BSE, thus making monetary transactions completely safe.
Groww app also has an SSL certification and 128-bit encryption which makes the information provided by investors completely safe.
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