Avendus Capital advises raise financial services on its USD 120 mn series B investment led by Hornbill Capital with participation from MUFG

We are humbled to have found early success and product-market fit for Dhan amongst the Indian retail trading community. With this investment we're excited to grow, innovate and double-down on our focus on Dhan, and at the same time introduce new products that are focused on Investing, AI and expand into distribution of Financial Services.

Hornbill Capital has tracked and invested in leaders of India’s capital markets for over a decade. In less than four years, Dhan – driven by a product-first mindset, strong technology focus, and relentless innovation – has built one of India’s leading stock trading platforms in a profitable and capital-efficient manner. By staying deeply responsive to user feedback, Dhan has earned the trust of both traders and investors. We are delighted to partner with Pravin and the Raise team as they democratize access to high-quality financial information and further scale a truly best-in-class financial services platform.

Digital adoption is accelerating access to financial products in India, creating a strong foundation for innovative platforms. Dhan has built deeply customer-centric, technology-led products that deliver speed and reliability at scale. MUFG is excited to back founders Pravin, Alok, Jay – leaders with extensive experience and a proven track record of building impactful products in the technology space – as they continue to strengthen their position and expand their offerings for millions of investors & traders in India.

We are excited to partner with Raise on this milestone fundraise. Raise has disrupted the trading and investing landscape on the back of its cutting-edge operating system and first principles led focus on superior product and customer experience. Receiving support from seasoned capital markets and fintech investors such as Hornbill Capital and MUFG further underscores the strength of its platform. Driven by bold innovation and sharp execution, Raise is well-placed to expand its product ecosystem and grow rapidly.