Dhani Services Ltd., one of the transactional finance and primary healthcare platform, announced an equity raise of Rs 1,200 crores for a 9% stake. Dhani is ranked at no. 3 on Google Play Store (India) in the Business category. Dhani has over 30 lac paid monthly subscriptions & 90 lac+ monthly active users.
Dhani’s flagship product - OneFreedom Card provides customers with an instant credit limit along with a bouquet of additional benefits such as access to doctors, discounted medicines, instant cashbacks, free trading account and many merchant offers at a nominal monthly subscription fee starting @ Rs. 250.
The leading investor in the equity raise is General catalyst from the Silicon Valley, investing Rs. 375 crores. General Catalyst has invested in companies like Stripe in the fintech space and Livongo in digital healthcare. The investment firm is focused on early-stage and growth investments in the technology sector.
The other investors in the round include Ribbit Capital, a leading global fintech investor with early-stage investments in Robinhood, Coinbase and Revolut. The founder of Dhani is also investing Rs. 375 crores alongside the other investors in the preferential round.