Cooley advised Bangalore-based wealth management platform Groww on its USD251 million series E equity funding round, which was led by Iconiq Growth and included new investors Alkeon, Lone Pine Capital and Steadfast, as well as existing investors Sequoia Capital India, Ribbit Capital, YC Continuity, Tiger Global and Propel Venture Partners.
Announcing the deal on 25 October, Groww said it was at a valuation of USD3 billion.
Cooley’s team was led by its Singapore-based partner, Matthew Bartus. The firm had advised Groww on its USD83 million series D funding round earlier this year.
AZB & Partners advised Tiger Global. The firm’s team comprised partners Srinath Dasari, Bhuvana Veeraragavan and Aditya Singh Chandel and senior associate Karishma Dugar.
Groww, operated by Nextbillion Technologies, said it planned to invest its capital in expanding operations to reach under-penetrated geographies, and to continue investing in improving the accessibility of its financial services to people in India.