Fintech Unicorn Dhan In Talks To Acquire Infinyte Club

Stock broking platform Dhan is in talks to acquire Bengaluru-based Infinyte Club, a wealthtech startup, to expand its presence in the broader wealthtech segment. The acquisition, expected to be worth around $10 million, will include a combination of equity and cash, according to sources. Inc42 has reached out to both Dhan and Infinyte Club for comment on the development, with the story set to be updated upon receiving responses.

Founded in 2023 by Ankita Tandon and Joylita Saldanha, Infinyte Club specializes in liquidity creation for employee stock ownership plans (ESOPs) and providing access to public and private market strategies. The startup focuses on startup employees, operators, and founders, offering them solutions to reallocate their wealth into other high-growth investment opportunities. Infinyte Club raised $3.6 million in its seed funding round in 2024 from Elevation Capital.

This potential acquisition comes more than a year after Dhan acquired Filter Coffee, a new-age media startup, to enter the business content space. Dhan, a fintech unicorn founded in 2021 by Pravin Jadhav, Jay Prakash Gupta, and Alok Pandey, entered the unicorn club after raising $120 million in its Series B funding round, which valued the company at over $1.2 billion. The acquisition of Infinyte Club is part of Dhan's inorganic expansion strategy, with plans to acquire a few more companies to strengthen its position in the fintech segment, according to sources.

Dhan is a subsidiary of Raise Financial Services, a stock broking-focused fintech that offers a suite of financial services primarily catering to users in tier I and II cities. The company's product portfolio includes the Dhan stock broking app, Option Trader for derivatives trading, the Dhan web platform, TradingView integration via Dhan, and an API platform for traders called DhanHQ. Raise Financial Services also operates other platforms such as ScanX, a market research platform offering news, screeners, and insights; Upsurge, an educational platform focused on financial markets; and Filter Coffee, a content platform delivering bite-sized media for Gen Z and millennials.

The acquisition of Infinyte Club marks Dhan's continued expansion into new areas of the fintech industry, building on its existing success in stock broking and related financial services. With the wealthtech sector expected to grow significantly in the coming years, Dhan's move to acquire Infinyte Club positions the company well to capitalize on this growth and diversify its offerings. The potential deal also highlights the increasing interest in wealthtech startups, as larger fintech players seek to expand their portfolios and stay competitive in a rapidly evolving market.

As the talks between Dhan and Infinyte Club progress, the two companies' responses to Inc42's inquiries will provide further insight into the nature and terms of the acquisition. The development of this potential deal is being closely watched by the fintech community, as it could set a precedent for future mergers and acquisitions in the wealthtech space. With the Indian fintech market continuing to grow and innovate, the acquisition of Infinyte Club by Dhan is poised to be a significant development in the industry.