Groww Parent Company Billionbrains Garage Ventures Limited Raises Rs 1,735 Crore
Billionbrains Garage Ventures Limited, the parent company of Groww, is set to raise Rs 1,735 crore (around $200 million) in a new funding round led by GIC, a Singapore-based investment firm, along with existing backer ICONIQ Capital.
This announcement follows the company’s recent filing of a confidential Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), as Groww aims to secure between $700 million and $1 billion through an Initial Public Offering (IPO).
The board at Groww has approved a special resolution to issue 3.59 crore preference shares priced at Rs 482.8 each to secure this capital, as indicated by their filing with the Registrar of Companies.
The Government of Singapore Investment Corporation (GIC), via its affiliate Viggo Investment, is set to invest Rs 867.5 crore ($100 million), while ICONIQ Capital will also contribute Rs 867.5 crore through its entity ISP VII-B Blocker GW.
According to the filing, the funds raised will be directed towards enhancing the growth of Groww’s current operations and its subsidiaries. Post-funding, both ISP Blocker and Viggo Investment will each hold a 1.43% stake in the company.
As estimated by Startup Superb, Groww’s valuation is expected to reach $7 billion following this funding round.
To date, Groww has successfully raised nearly $600 million from notable investors including Peak XV, Tiger Global, Ribbit Capital, and YC Continuity. The last recorded valuation of the company was around $3 billion after securing $251 million in its Series E funding round in October 2021.
An internal document from Groww indicates that the company experienced a revenue increase of 31%, amounting to Rs 4,056 crore in FY25. Additionally, profit soared threefold to reach Rs 1,819 crore during the same period. In FY24, Groww reported revenue of Rs 3,145 crore and an operating profit of Rs 545 crore. However, the company also faced a one-time tax payment of Rs 1,340 crore related to its change of domicile to India, resulting in a net loss of Rs 805 crore for FY24. The audited financial statements for the fiscal year closing in March 2025 have yet to be released to the RoC.