Pravin Jadhav's Raise Financial launches Dhan investing app for early access

Raise Financial Services, the fintech startup founded by Paytm Money‘s former chief executive officer Pravin Jadhav, has launched its Dhan app on Android and iOS for early access to users.

“We have started rolling out invites to users who signed up for early access,” the investment platform tweeted Friday. “We’ll build with early users, with a 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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