Raise Financial Services, the parent company of stock trading platform Dhan, has appointed Amit Gupta as its group chief financial officer (CFO), founder and CEO Pravin Jadhav announced in a LinkedIn post on Tuesday.
Gupta brings over two decades of experience in financial services. He previously served as group CFO at non-banking financial company Arka Fincap and held a senior vice president role at Indostar Capital Finance. Earlier in his career, he worked at ICICI Bank as a senior relationship manager.
"As we welcome Amit to the growing Raise family, he will be instrumental in driving profitable growth, capital allocation, scalability while ensuring financial discipline across our associate companies and ventures," Jadhav wrote in his post.
The founder also noted that the company has reached an annual revenue run rate (ARR) of $100 million in its third year of operations, and the new appointment is expected to help scale this tenfold.
Founded in 2021 by Jadhav, the former CEO of Paytm Money, Raise Financial Services offers wealth management and distributes a range of financial products. It owns and operates Dhan, a stock trading platform for high-frequency and professional traders, competing with the likes of Zerodha, Groww, and Upstox.
Raise had its first major institutional round in 2022, securing $22 million from Mirae Asset Venture, Beenext, 3one4 Capital, and others.
In May, ET reported that Dhan is set to close a $190–200 million funding round, which would value it at over $1 billion. The round will be led by ChrysCapital, with participation from Alpha Wave, Mitsubishi UFJ Financial Group (MUFG), the family office of Bharti Group chairman Sunil Mittal, and Dream11 cofounder Harsh Jain.
Earlier this year, Raise also acquired financial media startup Filter Coffee for an undisclosed amount. It owns and operates the stock market learning platform Upsurge.club.
Gupta brings over two decades of experience in financial services. He previously served as group CFO at non-banking financial company Arka Fincap and held a senior vice president role at Indostar Capital Finance. Earlier in his career, he worked at ICICI Bank as a senior relationship manager.
"As we welcome Amit to the growing Raise family, he will be instrumental in driving profitable growth, capital allocation, scalability while ensuring financial discipline across our associate companies and ventures," Jadhav wrote in his post.
The founder also noted that the company has reached an annual revenue run rate (ARR) of $100 million in its third year of operations, and the new appointment is expected to help scale this tenfold.
Founded in 2021 by Jadhav, the former CEO of Paytm Money, Raise Financial Services offers wealth management and distributes a range of financial products. It owns and operates Dhan, a stock trading platform for high-frequency and professional traders, competing with the likes of Zerodha, Groww, and Upstox.
Raise had its first major institutional round in 2022, securing $22 million from Mirae Asset Venture, Beenext, 3one4 Capital, and others.
In May, ET reported that Dhan is set to close a $190–200 million funding round, which would value it at over $1 billion. The round will be led by ChrysCapital, with participation from Alpha Wave, Mitsubishi UFJ Financial Group (MUFG), the family office of Bharti Group chairman Sunil Mittal, and Dream11 cofounder Harsh Jain.
Earlier this year, Raise also acquired financial media startup Filter Coffee for an undisclosed amount. It owns and operates the stock market learning platform Upsurge.club.
