Raise Financial Services, the parent company of investment tech platform Dhan, has officially launched Millions, a new investment application. The app is specifically designed to cater to the needs of Gen Z and first-time investors entering the financial markets. Millions aims to simplify wealth creation by offering a goal-oriented experience for investing in stocks, mutual funds, and IPOs.
A New Approach for a New Generation
The launch of Millions addresses a significant shift in the financial aspirations of younger demographics in India. Unlike previous generations, their investment goals are often tied to personal ambitions like funding a side hustle or pursuing a passion. Raise Financial Services developed Millions as a separate platform to make the investment journey more intuitive and accessible for this audience.
Pravin Jadhav, cofounder and CEO of Raise, highlighted the industry's traditional complexity. He stated, “By bringing together goal-based investing with access to a variety of products, we're making investing feel more relevant, approachable, and connected to what new-age traders actually care about.” This user-centric philosophy moves away from complex terminology and product-focused interfaces to prioritize tangible life goals.
Capturing a Growing Market
Millions enters a market where young investors are becoming a dominant force, with Gen Z now constituting 40% of all NSE-registered investors. This demographic shift is further evidenced by the median investor age in India dropping from 38 to 33. The app is positioned to capitalize on this trend by providing tools tailored to their digital-native preferences.
The platform is regulated by SEBI and designed for easy adoption, currently charging no onboarding or brokerage fees for direct equity investments. To lower the barrier to entry, the minimum Systematic Investment Plan (SIP) amount is set at an affordable ₹500. For active traders, the platform maintains competitive pricing for various equity and options trades.
Raise's Strategic Expansion
This launch is a key component of Raise Financial Services' broader ambition to evolve from a brokerage firm into a full-stack investment ecosystem. The company's growth is backed by significant capital, having secured $120 million in a Series B funding round that pushed its valuation to over $1.2 billion. This financial strength fuels its strategic expansion and product development initiatives.
In recent months, Raise has been on an acquisition spree to broaden its service offerings and capabilities. The company acquired GreenLife Insurance Broking to enter the insurance distribution space and purchased algo-trading platform Stratzy to enhance its trading solutions. These moves demonstrate a clear strategy to build a comprehensive financial services platform for a diverse user base.
Building a Comprehensive Fintech Portfolio
Founded in 2021 by former Paytm Money CEO Pravin Jadhav, Raise has rapidly built a diverse portfolio of financial products. Its offerings include the flagship stock broking app Dhan, the specialized Option Trader app, and the DhanHQ API for advanced traders. This multi-product strategy allows the company to serve various segments of the investment community effectively.
Beyond its core trading platforms, the company also operates several value-added services to support its ecosystem. These include the financial market information platform Upsurge, the market research tool ScanX, and FuzzAI, an AI-driven trading insights platform. This integrated approach provides users with a holistic suite of tools for their entire investment journey.
The introduction of the Millions app marks a calculated move by Raise Financial Services to engage the next wave of Indian investors. By focusing on simplicity, accessibility, and goal-based investing, the platform is well-positioned to attract a significant user base from the Gen Z demographic. This launch reinforces Raise's commitment to building a diversified and technology-led financial ecosystem, solidifying its position as a key player.