Raise Financial Services has raised $22 million in Series A funding from BEENEXT and Mirae Asset Venture Investments.
The fintech startup was founded in January 2021 by Pravin Jadhav, who previously led Paytm Money, and its first product, trading platform Dhan, was released in November last year.
Raise Financial is to spend $15 million in Dhan in the coming months, bolstering its product, operations, and technical teams.
Raise Financial also intends to launch additional financial services, such as insurance, wealth management, and investment management.
Dhan, which had previously only been available to invitees, has just made its app available to everyone. On Google’s Playstore, it presently has over 100,000 downloads.