Grifin provides 11 million dollars to make the investment less intimidated for its female user base

GriffinIt is an investment application that simplifies investment by purchasing shares automatically in the brands where users are shopping regularly, on Wednesday, that it received a $ 11 million financing round, which amounts to a total amount of about $ 22 million.

Besides the advertisement, Grifin also revealed that he exceeded 500,000 registered users, indicating that his investment approach resonates with many users. Grifin also demands about a million downloads of the total application and 100,000 active users per month. The company refused to share its evaluation.

Investment brand and the growth of users are the important landmarks of Grifin, which reflects investor confidence in the company’s business model and its ability to disrupt traditional investment methods. The stock market can be frightening for many Americans – and only reported 62 % of adults I have any shares directly.

New capital will be invested in building software engineering teams and UX design teams, as well as product development. The upcoming features include Chatbot, which includes Grifin, as well as the plans of the family designed for parents who want to define their adult children with investment.

Grifin, founded in 2017 by Aaron Froug, Bo Starr, and Robin Froug, aims to simplify investment for those who find it intimidation. It was initially based on the concept of “shopping arrows”, the company evolved in 2024 to Adaptive investment form This automatically invests one dollar of user transactions to shares related to their purchases. For example, if user stores are invested in Walmart, one dollar is invested in Walmart Stock. Users can also manually adjust investment amounts. The model has proven its success, as it is clear from GRIFIN internal data that shows a 234 % increase in spending in Walmart after six months of purchasing users.

There is another approach that Grifin takes to simplify investment by providing educational materials that provide users daily visions of financial literacy. The company plans to expand its educational offers and develop Chatbot, Amnesty International, which can summarize articles on the platform and provide quick answers to the user’s questions. Chatbot will also provide visions in individual accounts, and answers inquiries such as, “When did you do this investment?” Or “When did you receive profits?”

The timing of the show is currently unknown, as Grifin wants to make sure that Chatbot provides accurate answers before its launch.

“Artificial intelligence can be an amazing advantage, but it may sometimes not give the right things,” said frog, CEO of Grifin, for Techcrunch. “So we just make sure that we are active and cross T before we launch something like this.”

Educational offers are especially important due to the GRIFIN user base. Many of its women users between the late 1940s and sixties, a traditional group that has a lesser degree in its invested knowledge. There are also younger women between the ages of 18 and 24, and this may be the reason that Grifin is considering adding budget tools that give users an insight into their spending.

One of the most required features is family plans, which will enable users to share their Grifin accounts with family members and provide investment to younger users. Many young generations were reluctant to invest in the stock market. Although the market has improved in recent months, there are still risks.

“One of the great things we want to do with family plans is (allowing) parents or grandparents to help financing children’s accounts or grandchildren, so there is not much financial pressure.”

The tour led Nava Ventures with the participation of Alloy Labs, Daper Associas, Gaings, NevCau Ventures and TTV Capital. In addition to funding, Freddy Martinity, the partner in Nava Ventures, joined the Griffin Council.