Dhan, investing app launched by Raise Financial for early access
- ByStartupStory | September 18, 2021
Dhan app has been launched on Android and iOS for early access to users by Raise Financial Services, the fintech startup founded by Paytm Money’s former chief executive officer Pravin Jadhav,
The investment platform tweeted on Friday that they have started rolling out invites to users who signed up for early access and they will build with early users, wider rollout over the next few days.”
Raise Financial Services plans to go live with its stock-trading and investment product by the end of this year and is also in the early stages of discussions to “functionalise” insurance and money management offerings, according to a August 10 ETtech report on the company’s acquisition of Moneylicious Securities, a stockbroking firm.
“The way we envisage to build Raise Financial Services is to have it as a holding company with several lines of business as subsidiaries. Acquisition of Moneylicious is the first step in this direction,” Jadhav had said then.
In February, Raise Financial raised seed funding from Mirae Asset’s early stage fund, and US-based Social Leverage, Blume Ventures Founders’ Fund and Multi-Act Equity.
Raise Financial is setting up itself as a money management platform for financially aware customers with a diverse wealth portfolio. It will also enter the insurance distribution business, catering specifically to urban India. Its rivals would include unicorns such as Zerodha and Groww, as well as IPO-bound Paytm and Policybazaar.
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