Lalit Keshre is an Indian businessman and industrialist. Lalit is the co-founder and CEO of an Indian digital investment platform named “Groww’ and his partners built a unique company that provides a platform for people in India to develop property without any fees. Investment Opportunities in India: Entrepreneurship in India has been mostly traditional, due to a lack of consumer confidence and knowledge. Things have changed, however, as many areas of our daily lives have become more computerized. Online investment platforms have not only simplified shopping but have also given customers access to previously inaccessible financial instruments. Several startups have jumped on this digital investment opportunity now and are paving the way for millennials to invest in India.
Biography & Wiki
Lalit Keshre is one of the CEO of Groww. Belonging to a small city in Madhya Pradesh, India Lalit Keshre made his way to the Indian Institutes of Technology (IIT)- Bombay, worked for Flipkart to learn a lot about Indian startups, and finally started Groww with his friends which changed the way we invest today. Earlier investing was a hefty task due to the lack of simplicity in investment models. Lalit tackles this problem by making investing very simple. He Works to democratize investing in our country.
Lalit Keshre says that at least 1 billion people have bank accounts in the country, but only 20 lakh people invest money. He says that everything from e-commerce and cab booking to food delivery was changing, but there was no innovation when it came to financial services. This was in 2016, when Lalit Keshre, an IIT Bombay alumnus, worked as a group product manager in the e-commerce company Flipkart.
One day he decided that he would quit his lakhs job at Flipkart and start his startup. He wanted to start a startup in a field that is not only big but also solves the problems of consumers. This is where he saw a great opportunity and resigned from Flipkart in May 2016. Thereafter, along with his old colleagues Neeraj Singh, Harsh Jain, and Ishan Bansal, he began working on Grow App.
Lalit Keshre Bio
|Profession||CEO and Co-Founder of Groww|
|Famous For||Groww Founder|
|Birthplace||Madhya Pradesh, India|
|Hometown||Madhya Pradesh, India|
|Height||‘5’7″ (feet & inches)|
171 cm (in centimeters)
1.71 (in meters)
|Weight||65 (in kilograms)|
143 lbs (in pounds)
Looking For Opportunities In Disasters Like Demonetization
The year 2016-17 was also very good for Grow App, which found an opportunity in a disaster like demonetization. It was only in November 2016 that the Modi government announced demonetization, after which people started turning to digital. People started using UPI. The youth saw a better opportunity in Grow and for this, they started investing in shares and mutual funds, etc.
Although the work on the Grow app started in 2016, its official launch took place in December 2017. Groww had raised US$251 million (roughly Rs. 1,885 crores) in a funding round led by Iconic Growth in October last year. This funding round also saw participation from investors such as Alcan, Lone Pine Capital, and Steadfast. Groww’s existing investors such as Sequoia Capital, Tiger Global Management, Ribbit Capital, YC Continuity, and Propel Venture also participated.
What Happens On Groww App
Today investors can invest directly in Mutual Funds, Stocks, ETFs (Exchange Traded Funds), and IPOs through Groww. The company newly launched a service for users to invest in Initial Public Offerings (IPOs), sovereign bonds as well as futures and options on its platform. That is, now it has become easy for customers to invest through this app, due to which their idea has taken off. Groww is one such firm that has attracted not only a large client base but also startups and notable venture capitalists like Sequoia Capital.
Right after graduating from IIT, Keshre and Jain started working together in a startup, but when they were separated for a while, they reconnected at Flipkart and were assigned to almost the same team. GET THE BEST INVESTMENT PLAN: During my time at Flipkart, we noticed that despite the size of the financial services industry, there is a significant gap.
Traditional assets like fixed deposits are used by lakhs of people to save money. Wealth in India is expanding, shifting from traditional assets to financial assets, so everything is going online. Because we come from Internet history, we understand customers very well, and only then did management understand that they needed to develop a product that could take advantage of it.
Lead As A Game Changer
The priority should be to make things simple for the people and the second should be to educate them. Until now, the financial services business has focused on selling rather than buying financial products. After all, nobody says to themselves, “Let me buy mutual fund schemes so soon.” People will call you and try to sell you mutual funds and other investments, it has always been that way, but now, thanks to services like Groww, you have access to all the knowledge you need, just like you would on online marketplaces like Flipkart or Amazon.
Technology and Groww
We’re geeks, and there’s a lot of tech under the hood. We make extensive use of technology. The approval process varies greatly depending on the amount of investment and everything else. If you visit our app and view any funds, we present the information in the most customer-friendly way possible so as not to put the user off. So that’s the soft side of the process.
Social Media Info
If you Like Lalit Keshre and you want to know more about her, You can follow her on platforms such as Instagram and Twitter.
Lalit Keshre Instagram: @lalit_keshre
Lalit Keshre Twitter: @lkeshre
Some Lesser Known Facts about Lalit Keshre
- Lalit Keshre, Ishan Bansal, Harsh Jain, and Neeraj Singh are the Co-founders of Groww. They quit their jobs in 2016 to start an online investment platform for India. Coming from non-finance backgrounds, they bootstrapped the company and built the product themselves.
- Groww is India’s fastest-growing investment platform. Despite heavy competition in the wealth management space, the app has been able to differentiate itself and maintain an impressive growth trajectory of 30% month-on-month.
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