Bengaluru, Sep 19 (PTI)Groww announced on Thursday it has raised a USD 21.4 million in Series B funding round from US-based VC firm Ribbit Capital along with existing investors Sequoia India and Y Combinator also participating in the round.

Bengaluru-headquartered Groww said it will use these funds to get top talent on board across engineering, product, and growth teams, and is looking to increase the team size to 200 plus soon.

The company said in a statement it also aims to use a significant portion of the capital to fortify tech capabilities and build super scalable infrastructure for investing.

Groww, an investing platform offering direct mutual funds on its platform, has more than 2.5 million registered users, the statement added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)