The acquisition is expected to be worth around $10 Mn, comprising equity and cash
Founded in 2023 by Ankita Tandon and Joylita Saldanha, Infinyte Club helps customers in liquidity creation for ESOPs and unlocking access to public and private market strategies.
Dhan’s parent Raise Financial Services is a stock broking-focused fintech which offers a suite of financial services, primarily catering to users in tier I and II cities
Stock broking platform Dhan is in talks to acquire Bengaluru-based Infinyte Club to enter the broader wealthtech segment, sources told Inc42.
The acquisition is expected to be worth around $10 Mn, comprising equity and cash, ET reported.
Inc42 has reached out to Dhan and Infinyte Club for comments on the development. The story will be updated on receiving responses.
Founded in 2023 by Ankita Tandon and Joylita Saldanha, Infinyte Club helps customers in liquidity creation for ESOPs and unlocking access to public and private market strategies. The wealthtech startup focuses on startup employees, operators, and founders to provide them solutions to redeploy their wealth into other high-growth investment opportunities.
Infinyte Club last raised $3.6 Mn in its seed funding from Elevation Capital in 2024.
The development comes more than a year after Dhan acquired new-age media startup Filter Coffee to foray into business content space.
The fintech startup, founded by Pravin Jadhav, Jay Prakash Gupta and Alok Pandey in 2021, entered the unicorn club after raising $120 Mn in its Series B funding round which valued it at over $1.2 Bn.
The acquisition of Infinyte Club is part of Dhan’s inorganic expansion strategy. It plans to acquire a few more companies to expand its presence in the fintech segment, the sources added.
Dhan’s parent Raise Financial Services is a stock broking-focused fintech which offers a suite of financial services, primarily catering to users in tier I and II cities. Its product portfolio includes Dhan stock broking app, Option Trader for derivatives trading, Dhan web platform, TradingView integration via Dhan, and an API platform for traders called DhanHQ.
Raise Financial Services also operates the following platforms:
- ScanX – A market research platform offering news, screeners, and insights
- Upsurge – An educational platform focused on financial markets
- Filter Coffee – A content platform delivering bite-sized media for Gen Z and millennial audiences.
The unicorn counts Hornbill Capital, Japan’s MUFG, BEENEXT, DMart founder Ramesh Damani, DSP Family Office, JM Financial Family Office, White Oak Capital’s Aashish Somaiyaa, 3one4 Capital, CRED’s Kunal Shah, Flipkart CEO Kalyan Krishnamoorthy, and PhonePe’s Sameer Nigam and Rahul Chari among its investors.
The development comes at a time when investors are actively backing wealthtech ventures amid the growing demand for such offerings in the country. For instance, Bachata raised $12 Mn in its Series A funding round led by Accel earlier this week to provide a savings solutions platform to merchants and self-employed individuals.
Last year, mutual fund distributors-focussed wealthtech startup Wealthy raised ₹130 Cr to advance its AI-powered tools and digital infrastructure for mutual fund distributors.
Comments are closed.