PE Fund Investments
Fintech startup Raise Financial attracts $22-M from Beenext, Mirae, 3one4Capital, others
Mumbai-based Raise Financial Services has raised USD 22 million in its Series A round led by Beenext and Mirae Asset Venture Investments. The financing round also saw participation from 3one4 Capital along with Rocketship.vc and angel investors Vidit Aatrey, Sanjeev Barnwal, Amrish Rau, Sujeet Kumar, Jitendra Gupta and Sandeep Tandon. Raise will invest USD 15 million in its flagship product and investment platform for retail investors Dhan over the next few months. Raise also plans to set up technology-led consumer financial services across financing, insurance, investments, payments and will launch a millennial-focused product in the investing vertical. Raise Financial was founded in January 2021 by Pravin Jadhav - who previously served as the CEO of Paytm Money - and had attracted seed funding in February. In August 2021, Raise had acquired 100% stake in Moneylicious, a registered stockbroker.
From the Venture Intelligence PE-VC Deal Database: In Feb-21, Raise Financial raised $2.9 M from Mirae Asset Global Investments, Whiteboard Capital, Blume Ventures, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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