Groww : Product Review | Is it worth the hype | Pros & Cons
With a fresh $251 million funding, Groww has tripled its valuation to $3 billion in just over 6 months.
More than 20 million Indian users (70% of whom are from tier 2 and 3 geographies) are using Groww to invest in Mutual funds, Stocks, SGB and more. As India’s push toward digitization gets stronger, the future looks bright for Groww.
But is the product worth the hype? As I’ve been using Groww for the past two years, in this article I’ll talk about the features that I’ve really loved and what I think can improve.
Here is a list of some amazing features that Groww is offering -
- Mutual Funds portfolio analysis — Portfolio analysis on Groww is super user-friendly and compact. Visual representations of investment analysis, category-split, and company-split provide the investor with the tools to remain in control of their investments.
2. Mutual Funds ‘Collections’ — A basket of mutual funds compiled on the basis of easy-to-understand filters like ‘High Returns’ is just perfect for an early and a seasoned investor as well.
3. Fund Transactions — This feature delivers transparency in form of a neatly compiled audit trail which is an easy stop for the investor interested in transactions and NAV history.
4. Switch — One of the features that took me a while to discover is Groww’s fund switch. Switch enables the investor to shift from one fund to another which is managed by the same Asset Management Company. Right now, the user has to redeem all the assets while switching which can also attract exit loads.
5. Editing/ Adding SIPs — Groww has really made it easy for the investors to edit their ongoing SIPs by providing the option to change the amount & date or skip the installment without getting charged for it. Canceling the SIP is also a one-click affair
Groww has definitely lured a decent userbase thanks to the features I just talked about, but there is still room for improvement. These improvements are —
1. Stocks Technicals — Although Groww has been ramping up its efforts to improve stocks investment, it still has a few miles to go if it has to take on the likes of Zerodha, Tickertape, and Upstox in terms of stocks technical analysis.
2. External integrations — Integration with third-party platforms like Smallcase and TradingView have been in pipeline for some time now and can prove to be crucial to compete in Indian Fintech space.
3. Fund updates — Groww needs to work more on updates and current news on the funds they house so that the investor doesn’t have to rely on outside sources.
4. Portfolio Value Graph — Portfolio analysis graphical representation could improve by adding elements like ‘Highlight Investments’ which allows the investor to distinguish external investment from fund growth.
Considering how far Groww has come from its initial offering (Mutual Funds) and the response it has received, I believe it is indeed worth the hype. In the future, the company is looking to explore new avenues like crypto-based investments on its platform to capture the growing interest of Indian investors towards the upcoming asset class.
