Raise Financial Services ropes in Alok Pandey as cofounder

Prior to joining Raise, Pandey was chief technology officer at Rupeeseed Technologies, which he also co-founded in 2012.

Raise provides a technology-focussed platform for long-term investors as well as super traders. Founded in January 2021, it plans to launch newer fintech offerings in the financing, insurance as well as wealth management segments.

“We are confident that an experienced technology leader like him with deep domain experience will help us build and ship our products faster for investors and super traders,” said Pravin Jadhav, founder of Raise.

Jadhav was a member of the founding team at Paytm Money, Paytm’s wealth management division, and launched the service as its chief executive in 2018. He subsequently left to work on Raise.

In January, Raise picked up
$22 million in a new funding round led by Beenext and Mirae Asset Venture Investments, 3one4 Capital and Rocketship VC.

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Other angel investors that have invested in the company include Zomato’s Deepinder Goyal, Dream11’s Harsh Jain, Unacademy’s Gaurav Munjal and Razorpay’s Harshil Mathur.

Prior to that, the company had raised seed funding from Mirae Asset Venture Investments, with a group of prominent unicorn founders and chief executives participating in the round.

The company launched its investing and trading application
programming interface (API) platform, DhanHQ in February. The idea was to allow traders to deploy their trading strategies, as well as build their own trading platform in line with specific requirements and trade logic.

In August last year, the company also
announced the acquisition of Mumbai-based stock broker Moneylicious Securities.