An Indian FinTech firm called GroMo has secured US $11 million in a series A fundraising round that was spearheaded by SIG Venture Capital, the company’s Asian VC arm.
Y Combinator, Das Capital, Goodwater Capital, Beyond Next Ventures, Soma Capital, and Ace & Company were among the additional investors that took part in the round.
Through its network of 1.2 million agents, GroMo was founded by Ankit Khandelwal and Darpan Khurana in 2019 with the goal of giving individuals in small villages and cities access to financial goods. Currently, the organization provides more than 100 financial products, including credit cards, loans, investments, and insurance.
“Our vision is to drive financial inclusion in underserved markets by bridging this gap through face-to-face interaction, hand-holding by our agents, and after-sales support,” said Khandelwal, CEO of GroMo.
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