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The NBFC arm, Dhanrise Finance, is scheduled to commence lending operations in October 2026.
The round also saw participation from Pentathlon Ventures, Silicon Road Ventures, and existing investor Titan Capital.
The funding round also saw participation from Info Edge and other angel investors.
The contribution will be made either directly and/or through its wholly-owned subsidiaries, which include Smartweb Internet Services.
The funding round saw participation from JN Capital & Growth Advisory (Singapore) and various angel investors.
The deal comprises a mix of primary and secondary capital.
In July this year, Shoppin co-founder Utsav Soi filed a petition accusing co-founder Shlok Bhartiya and Info Edge of "oppression and mismanagement."
InfoEdge Ventures led the round, along with participation from Stargazer Ventures and Infinyte Club Angel Fund.
