Raise Financial Services Ropes In Amit Gupta As Group CFO

Trading platform Dhan’s parent Raise Financial Services has appointed financial services veteran Amit Gupta as its group chief financial officer (CFO). 

Making the announcement in his LinkedIn post, Raise Financial Service’s cofounder and chief executive Pravin Jadhav said that in his new role Gupta will overlook finance for Raise and its group companies.

“When we hit $10 Mn revenue, our investors and advisors suggested we do hiring in leadership roles for finance. We pushed back, said we will first achieve $100 Mn in revenues and then hire a leader who helps us not just lead finance but joins and helps us scale it to 10X from there. We were super lucky to reach $100 Mn ARR in our 3rd year of journey…,” said Jadhav. 

With 20 years of experience across corporate finance, treasury, business strategy and data analytics, Gupta previously served as the group CFO of Arka Fincap Limited and has been associated with the group for more than six years. 

Earlier, he was associated with IndoStar Capital Finance Ltd for over seven years. Gupta has also served ICICI Bank as senior vice president of treasury and corporate finance. 

“As we welcome Amit to the growing Raise family, he will be instrumental in driving profitable growth, capital allocation, and scalability while ensuring financial discipline across our associate companies and ventures,” the LinkedIn post read. 

Founded in 2021 by Jadhav, Jay Prakash Gupta and Alok Pandey, Raise Financial Services operates in the Indian stock broking space and primarily targets users in Tier I and II cities. 

Its portfolio of products include stock broking app Dhan, upskilling platform Upsurge.club and new-age media startup Filter Coffee. 

Notably, Raise Financial Services acquired Filter Coffee in January for an undisclosed amount. Back then, it said that the acquisition will help the company to simplify market news, offer data-driven insights and further expand to video and storytelling. 

Raise acquired Dhan’s parent, Moneylicious Securities in 2021 and integrated it with the Dhan platform. Dhan is an ‘Option Trader’ app that facilitates options trading and it has an API platform for traders called DhanHQ API. 

Dhan competes with the likes of Zerodha, IPO-bound Groww and Angel One.

On the financial front, Dhan’s parent Moneylicious Securities posted a revenue of INR 453 Cr in the first half of the financial year ended March 2025 (H1 FY25), with a profit after tax (PAT) of INR 214 Cr. 

It was reported in February that Raise Financial Services is in discussions with private equity (PE) firm ChrysCapital and two other US-based investors to raise $100 Mn to $150 Mn at a unicorn valuation.