Dhan and Infinyte Club acquisition talks, symbolizing growth and fintech expansion.
Stock broking platform Dhan is in talks to acquire Bengaluru-based Infinyte Club to expand into the broader wealthtech segment, according to sources familiar with the matter. The acquisition is expected to be valued at approximately $10 million, comprising both equity and cash, as reported by ET.
Founded in 2023 by Ankita Tandon and Joylita Saldanha, Infinyte Club focuses on providing liquidity solutions for ESOPs and access to public and private market strategies. The platform caters to startup employees, operators, and founders, offering wealth redeployment opportunities into high-growth investments. In 2024, Infinyte Club raised $3.6 million in seed funding from Elevation Capital.
This potential acquisition follows Dhan’s previous acquisition of Filter Coffee, a new-age media startup, more than a year ago, marking its entry into the business content space. Dhan, founded in 2021 by Pravin Jadhav, Jay Prakash Gupta, and Alok Pandey, achieved unicorn status after a $120 million Series B funding round, valuing the company at over $1.2 billion.
The acquisition of Infinyte Club aligns with Dhan’s inorganic expansion strategy, with plans for further acquisitions to strengthen its presence in the fintech sector. Dhan’s parent company, Raise Financial Services, offers a range of financial services, including the Dhan stock broking app and Option Trader for derivatives trading. Raise Financial Services also operates ScanX, Upsurge, and Filter Coffee platforms.
Dhan’s investors include Hornbill Capital, MUFG, BEENEXT, Ramesh Damani, DSP Family Office, JM Financial Family Office, Aashish Somaiyaa, 3one4 Capital, Kunal Shah, Kalyan Krishnamoorthy, and Sameer Nigam and Rahul Chari.
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