Raise Financial Services, the parent entity of investment tech platform Dhan, is expanding beyond stock trading after assembling a capital markets stack that includes APIs, AI-led tools, content, education, and algorithmic investing over the past five years. The company aims to transition from a transaction layer to a decision layer, catering to the evolving needs of retail investors.
The move follows a Series B funding round late last year, where the startup raised $120 million from investors including Hornbill Capital, MUFG, and BEENEXT, valuing the company at $1.2 billion and earning it unicorn status. The funding has enabled Dhan to expand its product offerings, including the acquisition of algo-trading platform Stratzy.
Dhan’s ambition is to build a financial operating system for the next generation of Indian investors. The company’s revenue from operations rose 136% YoY to ₹877 Cr in FY25, while profit zoomed 159% YoY to ₹408 Cr, according to regulatory filings.
In 2022, Dhan launched DhanHQ, an API-first trading platform. The company also launched Upsurge, a learning platform for trading and investing, in 2022 to educate users. In early 2025, it acquired the new-age media brand, Filter Coffee, to capture attention and engagement. In August 2025, the startup launched Fuzz Ai, an AI-powered financial research assistant, and followed it up with the launch of its in-house small language model (SLM), Artham, to interpret market signals. Besides, the startup also launched DEXT T3, a trading terminal for its users.
Earlier this week, Raise announced the acquisition of algorithmic investing and trading platform Stratzy in a cash-and-stock deal. Stratzy brings over 100 exchange-approved algorithmic strategies across equities, F&O, indices, and commodities, adding a systematic investing layer to Raise’s ecosystem.
As part of the acquisition deal, Stratzy will continue to operate independently and integrate across multiple broker platforms, not just Dhan.
Raise’s playbook spans four key layers: infrastructure (Dhan, DhanHQ), AI-powered intelligence (Fuzz AI, Artham), engagement (Upsurge, Filter Coffee), and strategies (Stratzy). These components aim to create an integrated ecosystem where users can learn, analyze, execute, and automate within a single platform.
Raise is also interested in acquiring a wealth tech startup, Infinyte Club, which would allow it to foray into the advisory and portfolio management segment. The company is creating a moat by combining trading, intelligence, and automation, backed by capital and momentum.
About the Author
