Veritas Legal advises Dhan on USD 120 million Series B fundraise
Raise Fintech Ventures Private Limited, operating the “Dhan” broking app, has raised a $120 million from a Series B fundraise led by Hornbill Capital.
This fundraise had pushed Dhan into the unicorn club, at a valuation of $1.20 billion.
Veritas Legal acted for Raise Fintech Ventures, its promoters and existing investors, on this fundraise. The Firm provided assistance in strategic advisory, due diligence, transaction documentation throughout the transaction for the Company as well as the existing selling investors taking part in the secondary sale and assistance with closing of the deal.
The deal team was led by Manav Raheja (Senior Partner),which included Parshva Doshi (Principal Associate) and Associates, Vanshika Katiyar, Kashish Gupta, and Akriti Gupta.
Raise Fintech Ventures is a fintech company that builds consumer products for investing, trading, and wealth management. Its primary business is providing stock broking services through its wholly owned subsidiary, Moneylicious Securities Private Limited, which operates the online stock broking platform ‘Dhan’. Dhan is one of the fastest growing trading and investment related application in India.
In addition to the above, it also operates Upsurge.club (a financial edtech platform) and Filter Coffee (financial media).
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