Raise Financial Services, the Mumbai-based parent company of stockbroking platform Dhan, has secured US$120 million in a series B funding round led by Hornbill Capital.

The round also saw participation from Mitsubishi UFJ Financial Group, BEENEXT, Ramesh Damani, DSP Family Office, JM Financial Family Office, Aashish Somaiyaa, and other investors.

The funding values Raise at around US$1.2 billion, marking its unicorn debut.

Founded in 2021, Raise Financial Services operates Dhan, as well as ScanX, Upsurge, and Filter Coffee, which offer market insights and financial education.

🔗 Source: YourStory