Dhan's parent to acquire wealthtech startup Infinyte Club
The transaction is expected to be structured as a mix of cash and equity, placing Infinyte Club's valuation somewhere between $13 million and $15 million.
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Raise Fintech Ventures, the company behind stock trading platform Dhan, is set to acquire Infinyte Club, a wealthtech startup backed by Elevation Capital, the Entrackr reported citing sources.
The acquisition will be a complete 100% buyout, with Infinyte co-founder Ankita Tandon expected to lead Raise's wealth management division.
The transaction is expected to be structured as a mix of cash and equity, placing Infinyte Club's valuation somewhere between $13 million and $15 million.
Infinyte Club was co-founded in 2023 by Tandon and Joylita Saldanha. The platform gives users a gateway into private market investments and helps early-stage startup employees unlock liquidity from their ESOPs.
Since its launch, the startup has received funding of over $3.6 million from backers including Elevation Capital and prominent angel investors like Kunal Shah, Vidit Aatrey, Gaurav Munjal, and Harshil Mathur.
Raise achieved the unicorn status last October after closing a $120 million Series B round led by Hornbill Capital.
Earlier this year, it also acquired Filter Coffee, a fintech media outlet.