Dhan achieves unicorn status with $120M Series B funding

Raise Financial Services, the parent of Dhan, has entered the unicorn club after a $120M Series B led by Hornbill Capital and MUFG. CEO Pravin Jadhav plans to expand into AI-driven investment products. Founded in 2021, Dhan reported ₹900 Cr revenue and ₹400 Cr PAT in FY25. Competing with Groww and Zerodha, Dhan aims to redefine India’s investment tech space.