Raise Financial Services, based in Mumbai, has signed a definitive agreement to buy Surat-based online learning firm Valuationary for cash and stock, according to a prepared statement.
Valuationary, together with its 15-member team, including the founders, will join and operate from Raise Financial’s headquarters in Mumbai following the acquisition.
Valuationary is an online learning platform that helps young professionals in the financial sector upskill. It was founded in 2020 by Pratik Bajaj, Kunal Shah, and Mahip Gupta.
Upskilling is possible through the startup’s courses and live sessions, which aim to make financial news and information as simple as possible.
Raise hopes to strengthen its investment and wealth stack with this purchase by allowing investors and traders to learn about markets through Valuationary’s courses.
Raise will also invest further in Valuationary as part of the acquisition to offer additional products in existing and new formats, such as short-form content and micro-courses on a variety of financial issues like stock markets, trading, insurance, overseas investing, and more.
“Wealth-tech is a much larger space and we believe that users can be better served through an ecosystem-based approach – Dhan continues to scale as our investment platform and Valuationary will now be built as our platform. I am personally excited to welcome Pratik, Kunal, Mahip, and the team at Valuationary as we aim to bridge the gap in providing financial education and increasing awareness about investing.”, said Pravin Jadhav, founder of Raise Financial Services.
Jadhav previously founded and served as the managing director of Paytm Money, Paytm’s wealth management division.
Raise has already bought Mumbai-based stock broker Moneylicious Securities in August of last year. Through the Moneylicious acquisition, the plan was to build a new investment app for everyday stock traders and long-term investors.
This year, Raise unveiled DhanHQ, an application programming interface (API) platform to let active traders deploy their trading techniques and construct their own trading platform tailored to their needs.
“With its gamified quizzes and bit-sized knowledge clips, Valuationary has been able to maintain a course completion rate of over 75%. We aim to introduce many products and our partnership with Raise will bolster our endeavour to change the face of financial literacy in terms of how content in finance is delivered and consumed,” said Shah, cofounder, Valuationary.