Raise Financial Services, which owns and operates stockbroking platform Dhan, said on April 6 that it has acquired Surat-based e-learning platform Valuationary for an undisclosed amount. The deal was a combination of cash and stock.
Founded in 2020 by Pratik Bajaj, Kunal Shah, and Mahip Gupta, Valuationary is an e-learning platform that helps young professionals in the financial sector to upskill themselves. The startup enables users to upskill through its courses, live sessions, and extensive social media presence where it responsibly simplifies financial news and information.
With this acquisition, Raise aims to strengthen its investment and wealth stack by enabling investors and traders to learn about markets via Valuationary’s courses.
Pravin Jadhav, founder of Raise Financial Services, said in a statement, “Wealth-tech is a much larger space and we believe that users can be better served through an ecosystem-based approach - Dhan continues to scale as our investment platform and Valuationary will now be built as our platform."
Raise will invest further in Valuationary to launch new products in existing and new formats, which include short-form content, micro-courses, interactive sessions, and more, covering various financial topics including stock markets, trading, insurance, international investing, and more. Valuationary is expected to launch some of its new products and courses in the next few months.
After acquisition, Valuationary's founders and 15-member team will join and operate from Raise Financial’s headquarters in Mumbai and the company will be a 100 percent subsidiary of Raise.
Pratik Bajaj, co-founder of Valuationary, said, "Indians have been very good at savings but with growing inflation, there is a need to invest and be financially literate."
This is Raise's second acquisition after purchasing Mumbai-based Moneylicious Securities just five months after securing its seed funding. The Moneylicious acquisition had helped Raise secure required licences and registrations to launch Dhan.
Raise was founded in January 2021 by Jadhav who was earlier managing director and CEO of Paytm Money. After its seed round, the company raised $22 million in Series A investment in January this year from Mirae Asset Venture Investments, BEENEXT, 3one4 Capital, and Rocketship VC and is also backed by technology entrepreneurs and leaders from the Indian startup ecosystem.
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