Raise Financial Services, the parent company of the stock trading platform Dhan, has raised $120 million in a Series B round led by Hornbill Capital, with participation from MUFG and BEENEXT. The round values the company at $1.2 billion, making it India’s latest fintech unicorn.
The funding also saw participation from several well-known investors including Ramesh Damani, DSP Family Office, JM Financial Family Office, and Aashish Somaiyaa.
Raise plans to use the fresh capital to scale Dhan, strengthen its technology and AI capabilities, and launch new investment and financial distribution products.
Founded in 2021, Raise Financial is building a full ecosystem of financial products. Apart from Dhan, it runs: ScanX, a market research and analytics platform, Upsurge which is a learning platform for traders and investors, Filter Coffee, a finance-focused content platform for Gen Z and millennials, and Fuzz, an AI model trained on large-scale financial data to deliver verified insights.
Dhan itself has become a fast-growing trading platform with nearly one million active users, offering tools like Options Trader, Dhan Charts, and DhanHQ APIs, designed for both active traders and long-term investors.
Dhan’s funding marks a strong vote of confidence in India’s fintech sector, especially at a time when markets are becoming more competitive and investor interest is returning. Investors like Hornbill Capital say Dhan has built one of India’s most efficient and profitable trading platforms, earning trust by staying product-driven and responsive to its users.
Now this is important to understand the evolving trends in Broking Industry. Groww is all set to go for an IPO, Zerodha is minting thousands of crores in profits and now one more startup from this space becoming a unicorn clearly shows how this industry is booming.
With this new funding, Dhan joins the ranks of India’s top fintechs like Zerodha, Groww, and Upstox and aims to strengthen its position as a platform that blends technology, transparency, and trust in India’s fast-evolving capital markets.
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