72% mutual fund investments are powered by UPI: Groww

According to Groww, 72% mutual fund investments are powered by UPI. With over five million users, investment platform Groww is making investments in mutual funds simpler.

In 2019, Groww introduced the UPI payment option resulting in more than 72% investors choosing the mode on the platform.

A Bangalore-based startup, Groww allows its users to invest in mutual funds, including systematic investment planning (SIP) and equity-linked savings. The app, which maintains a very simplified user interface to make it easier for its largely millennial customer base to comprehend the investment world, offers every fund that is currently available in India.

Backed by Sequoia India and Mukesh Bansal, Groww is set to introduce stock investments in addition to the existing mutual funds.