Raise Financial Services buys upskilling platform Valuationary
By Team Startupcity | Wednesday, 06 April 2022, 08:56 Hrs
Mumbai-based Raise Financial Services has entered into a definitive agreement to acquire Surat-based online learning startup Valuationary, in a cash and stock deal, the company said in a prepared statement.
Post-acquisition, Valuationary will join and operate from Raise Financial’s headquarters in Mumbai along with its 15-member team including the founders.
Founded in 2020 by Pratik Bajaj, Kunal Shah, and Mahip Gupta, Valuationary is an online learning platform that helps young professionals in the financial sector to upskill themselves.
The startup enables upskilling through its courses, and live sessions, where it tries to simplify 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.
As a part of the deal, Raise will also invest further in Valuationary to launch new products in existing and new formats, which include short-form content and micro-courses covering various financial topics including stock markets, trading, insurance, international investing, and more.
“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. I am personally excited to welcome Pratik, Kunal, Mahip, and the team at Valuationary as we aim to bridge the gap in providing financial education and increasing awareness about investing.”, said Pravin Jadhav, founder of Raise Financial Services.
Jadhav had previously started Paytm Money, the wealth management vertical of Paytm, and served as its managing director.
Earlier in August, last year, Raise had also acquired Mumbai-based stock broker Moneylicious Securities. The idea was to launch a new investment app for regular everyday stock traders and long term investors, through the Moneylicious acquisition.
Raise had also launched an application programming interface (API) platform, DhanHQ, this year to help active traders deploy their trading strategies and help them to build their own trading platform aligned to their specific needs.
“With its gamified quizzes and bit-sized knowledge clips, Valuationary has been able to maintain a course completion rate of over 75%. We aim to introduce many products and our partnership with Raise will bolster our endeavour to change the face of financial literacy in terms of how content in finance is delivered and consumed,” said Shah, cofounder, Valuationary.
Founded in 2021, Raise is a technology focussed investment platform focused on long-term investors and super traders.
Earlier in January, this year, the company had raised $22 million in fresh funding from Mirae Asset Venture Investments, Beenext, 3one4 Capital, and Rocketship VC, among others.