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Fintech unicorn Dhan is in talks to acquire Infinyte Club, which signals a strategic move to expand its offerings and strengthen its foothold in India’s competitive digital finance ecosystem. This will be the second acquisition for the Pravin Jadhav-led company in the past 15 months.
Raise Fintech Ventures Private Limited, the parent entity of stock broking platform Dhan, is set to acquire wealthtech startup Infinyte Club, according to reports.
“This will be a 100% acquisition, and Infinyte co-founder Ankita Tandon will head Raise Financial’s wealth management arm,” said one of the sources, requesting anonymity. Tandon was previously associated with Unacademy as VP, served as Chief of Staff at Zivame, and was COO at CouponDunia.
“The terms of the deal have been finalised, but approval from Raise’s board is still pending,” said a second source, requesting anonymity. “The transaction will be a mix of cash and stock, valuing Infinyte Club at $13–15 million,” the source mentioned.
In October last year, Dhan’s parent turned unicorn after raising $120 million in a Series B round led by Hornbill Capital. While the firm has yet to report FY26 numbers, its revenue from operations rose to Rs 877 crore in FY25. During the last fiscal year, Raise Financials’ profit also jumped 2.6X to Rs 408 crore from Rs 159 crore in FY24.
Founded by ex-Paytm Money executive Pravin Jadhav, Dhan has rapidly grown to nearly one million active users.
In January 2025, Raise acquired Filter Coffee, a new-age financial media startup. The latter joined Raise Financial’s ecosystem, which also includes the upskilling platform Valuationary and Moneylicious.
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Founded in 2023 by Tandon and Joylita Saldanha, Infinyte Club allows users to access private market investment opportunities and address ESOP liquidity challenges for early employees. The company has raised over $3.6 million in funding from investors such as Elevation Capital, along with angel investors including Kunal Shah, Vidit Aatrey, Gaurav Munjal, and Harshil Mathur.
The acquisition could plug a key gap in Raise’s ecosystem by adding access to private markets and ESOP liquidity solutions, areas not fully addressed by Dhan. Infinyte Club’s offering allows Raise to move beyond public market investing and strengthen its play in wealth management, especially for startup employees and high-growth company stakeholders.
Competitor Groww recently acquired wealth-tech firm Fisdom for about $150 million. Dhan has also boosted its tech offerings, launching AI models like 'Fuzz' and 'Artham'. The wealth management sector in India is highly regulated by SEBI, requiring strict compliance for investment advice, research, and trading activities. Integrating two different platforms and cultures poses execution challenges, especially with Infinyte Club's niche focus.
India's wealth management market is expected to grow significantly, with an estimated $1.6 trillion AUM opportunity between FY24 and FY29, as wealth increases and more people invest in financial assets.
