Dhan turns unicorn with close of $120 million fundraise led by Hornbill Capital

After months of funding discussions, Raise Financial, the parent of stock-trading startup Dhan, has closed a $120 million (Rs 1,000 crore) financing round led by Hornbill Capital, valuing the company at around $1.2 billion (Rs 10,000 crore). The round also saw participation from Japan’s Mitsubishi UFJ Financial Group (MUFG), Beenext, and public-market investors such as Ramesh Damani, DSP Family Office, JM Financial Family Office and Aashish Somaiyaa, CEO of White Oak Capital.