Groww, an Indian startup that is helping millennials invest in mutual funds and stocks, is in advanced stages of talks to raise a new financing round at a $3 billion valuation, according to six people familiar with the matter.
The Bangalore-based startup is negotiating to close a $250 million round, the people said, requesting anonymity as the matter is private. The round could close within weeks, they said.
Usual caveats apply: The terms of the deal may change. The startup has received several termsheets — with similar terms — in recent days. Tiger Global, Coatue, and TCV have held conversations to lead or co-lead the round, people said. And many including Insight Partners have also explored investment, the people said.
A spokesperson for Coatue declined to comment. Groww chief executive did not respond to a request for comment. Indian news outlet…