Tiger invests in Groww and Sharechat

Why read this story?

Editor's note: Six freshly minted unicorns this week. We’ll get into the specifics of two—stockbroking app Groww and short form social media company Sharechat. A Tiger vs Tiger fight. But for what? Twitter is going gaga over the number of unicorns created in just the last one week. Every time there is such a buzz over funding and unicorns in India, one company that grabs everyone's attention is Zerodha, with questions swirling over why the discount broking platform isn’t raising funds or going for an IPO? The other curiosity is what kind of valuation the highly-profitable company will fetch, compared to other loss-making startups that are turning unicorns.  Time and again, Zerodha founder Nithin Kamath has explained why he doesn’t need funding. This time too, he tried explaining the reasons in a Twitter thread. Kamath may have his reasons, but it’s not that stockbroking and investing are an untouched market in terms of funding. In fact, in this space, Zerodha’s closest rivals, Upstox and now Groww (a mutual fund platform that entered stockbroking just a year ago), have raised massive funding with …