Dhan Unicorn Achievement: $120 Million Boost For India’s Gen Z Stock Trading Pioneer

Dhan, the stockbroking platform under Raise Financial Services, has joined India’s unicorn club after securing $120 million in a Series B funding round led by Hornbill Capital. This round also saw participation from Mitsubishi UFJ Financial Group (MUFG), Beenext, and prominent investors like Ramesh Damani and JM Financial Family Office, valuing the company at approximately $1.2 billion.

 

Key Highlights

 

Founded in 2021 by Pravin Jadhav and co-founders, Dhan focuses on Gen Z and retail traders, offering equity, ETFs, futures, and options trading with integrations for enhanced market insights.

 

The funding will support scaling technology, expanding omnichannel presence, and launching new AI-driven financial products.

 

Despite regulatory challenges impacting derivatives trading, Dhan has sustained strong growth with expected FY25 revenues nearing Rs 900 crore, up from Rs 380 crore in FY24.

 

The company has maintained profitability and cash flow positivity for nearly three years, reflecting strong operational efficiency.

 

Strategic Outlook

With this investment, Dhan aims to deepen market penetration, innovate with AI-powered tools, and prepare for a potential IPO in the coming years, positioning itself alongside leading Indian stockbroking unicorns like Zerodha and Groww.

 

Source: Moneycontrol, Economic Times, Entrackr, The Print