We started Raise Financials in 2021, with an aim to change the consumer financial services landscape for millions of Indians. With this belief entailed in our hearts, we are thrilled to announce that we have raised $22Million in our Series A funding round.
Our funding was co-led by BEENEXT and Mirae Asset Venture Investments along with 3one4 Capital, Rocketship.vc & Whiteboard Capital. India’s leading entrepreneurs and founders like Jitendra Gupta ( CEO - Jupiter), Amrish Rau ( CEO - Pine Labs), Sujeet Kumar ( Cofounder - Udaan), Vidit Aatrey ( CEO & Confounder - Meesho ), Sanjeev Barnwal (Co-founder - Meesho) also participated in the round.
We also saw investment in late 2021 from India’s leading technology founders & entrepreneurs including Harsh Jain (Founder & CEO, Dream11), Anjali Bansal (Founder, Avaana Capital), Deepinder Goyal (Founder & CEO, Zomato), Gaurav Munjal (CoFounder & CEO, Unacademy), Nandan Reddy (Cofounder, Swiggy), Harshil Mathur (CoFounder & CEO, Razorpay), Shashank Kumar (CoFounder, Razorpay), Nitin Gupta (CoFounder & CEO, Uni Cards), Miten Sampat (CRED) and others.
We already also backed by Kunal Shah (Founder & CEO, CRED), Sameer Nigam (Founder & CEO, PhonePe), Rahul Chari (Founder & CTO, CRED), Anupam Mittal (Founder & CEO, Shaadi), Girish Mathrubootham (Founder & CEO, Freshworks), Amod Malviya (CoFounder, Udaan), and other founders & entrepreneurs amongst our investors.
Scaling our Flagship Product - Dhan
India now has 7.38Cr Demat Accounts till now, and it’s poised to grow at a tremendous rate in the coming years. But this still encompasses less than 5% of India’s population investing in the markets. There lies a huge opportunity in providing a differentiated product to the users to invest and trade in the markets backed by a strong technology stack. With this belief, we launched Dhan - A stockbroking app, built for long-term investors and super traders. We are proud to say that we have more than 1,00,000+ active investors on the platform and have found the right product-market fit among retail investors and super traders.
We will be investing $15Million in Dhan to scale our Product, Engineering, Operations & Customer Experience teams. Superior products ( Dhan app, web.dhan.co and tv.dhan.co) along with an exceptional customer service experience is fuelling our growth, and by committing this investment we will be able to help more users in bringing the Dhan experience.
The road ahead
A record number of Demat accounts in India have been opened from the participation of Gen Z and Millennials. There lies a huge opportunity to cater to them, and we soon will be coming up with a new product exclusive for the first-time investors from millennials and Gen Z.
Growing the team
We have reached this milestone because of the exceptional team we have built at Raise. We believe in empowering our employees with utmost creativity and guiding them by our principle of being extremely customer-centric.
We are hiring across verticals, and by joining our team you will be part of a 1 to 100x journey of changing the financial services landscape of India.
We are extremely grateful to all our investors, customers, community members and early believers who have believed in our vision of building exceptional products for India.
Join us in - Raising the Bar!
About Raise:
Incorporated on 1st January 2021 and based in Mumbai, Raise Financial Services raised its pre-seed round early this year and is backed by the best of technology entrepreneurs & leaders in the Indian startup ecosystem. Raise is founded by serial entrepreneur Pravin Jadhav, who in his prior ventures has built and scaled multiple startups in fintech, social, and e-commerce verticals.
LinkedIn – https://www.linkedin.com/company/raise-financial-services/jobs/
Stay updated with Raise Financial Services:
Twitter: @RaiseTheBarHQ
LinkedIn: Raise Financial Services
Regards,
Rahul
Growth & Community - Dhan
