GroMo raises $11 million in funding from SIG Venture Capital and others

GroMo, a fintech platform for distribution of financial products in tier 2-and-beyond cities, has raised $11 million in equities from a clutch of investors led by SIG Venture Capital, the Asian venture capital arm of SIG, a global proprietary trading and private equity investment firm.

The other key investors include Y-Combinator, Das Capital, Goodwater Capital, Beyond Next Ventures, Soma Capital, Ace & Company and Hauz Khas Ventures, the company announced Tuesday.

The company, founded by two IIT Delhi alumni, Ankit Khandelwal and Darpan Khurana, has also received funding from several angel investors.


GroMo distributes an array of financial products across insurance, investments, credit cards, loans as well as savings & demat accounts from IDFC Bank, Jupiter Money, Axis Bank, Freecharge among others. the company said.

GroMo has a network of 1.2 million agents on its platform.