Dhan is a trading application designed by Raise Financial Services. A source close to the deal told Moneycontrol that the trading startup plans to raise $100 million in its new funding round at a valuation of $1.5 billion. The round may include new and existing investors, including the investment banking firm Avendus.
The firm was founded by Pravin Jadhav, the former CEO of Paytm Money, to offer an online trading platform. Some of Dhan’s existing investors include 3one4 Capital, Mirae Asset Venture Investments, and Beenext. The trading startup intends to use these fresh proceeds to scale its operations, enhance its platform, and launch new services while aiming for market expansion. The investment will help Dhan to enhance its capability by integrating new technologies, networks, and services. This online stock trading and investment platform offers applications like investing in Mutual funds and stocks. The company aims to help individuals make investments and create wealth in India.
The investment platform helps long-term traders to invest and trade in securities quickly. The application uses advanced tools and technologies to make online trade secure and easier for its users. The platform lets its users access the financial condition of companies, such as market capitalization and income statements. The source, aware of the deal, mentioned that looking at this revenue run rate, the firm will go for around a 15-fold increase. The new funding round will be the first funding round for the startup since its inception. The startup is at a revenue run rate of Rs 830 crore with a net profit margin of 40 percent.
The fundraising news came just after the Indian stock market and trading sector saw increased investor interest and robust retail participation. After this round, the company is expected to turn unicorn. India has only reported three unicorns for this year so far. Dhan is a SEBI-regulated trading platform that follows all the depository participant rules and regulations. The web trading platform does not charge any brokerage fees for equity delivery. The startup allows users to invest in mutual funds, stocks, term insurance, gold investments, and other wealth management services. The company faces competition from other investment and trading companies, including Groww, Upstox, and Zerodha.
Conclusion
Dhan is a trading application under Raise Financial Services that will raise $100 million at a valuation of 1.5 billion USD in its new funding round. The company intends to use this fresh fund to scale its operations, enhance its platform, and expand its network while improving its financial capabilities. The startup will also use some of this investment to solidify its position in the investment market. The platform uses advanced technologies to offer the best user experience while following regulatory compliance. The company provides investment guides and tools for long-term investors. The investment platform plans to improve the trading experience and contribute to the stock market’s growth in India. Dhan competes with Groww, Uptox, and other trading startups.
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