dhan

Handbook

Technology enables new ways to trade and invest in India's fast-growing Retail Trading & Investing market. New and advanced technologies have led to new entrants into the market through a combination of innovative, user-focused services, which have proven themselves quickly. Launched in 2021, Dhan has emerged as one of the Top stock trading platforms in India, offering both Active Traders and long-term investors a wider selection of investment products.

Dhan has drawn on the Depth of experience and Knowledge of its founding team, all of whom are seasoned Fintech Entrepreneurs. By combining state-of-the-art technology and a new approach to simplifying investing, Dhan has developed New Features to improve not only the User Experience but also the overall Financial Performance of its Users. This Article provides an insight into Dhan's Journey to Market; Insight into their Key Product Offerings; Their Regulatory Status; an Overview of Their Trading Conditions, Fees, and New Product Releases; and a complete Overview of the Role of Dhan in the Financial Marketplace in India.

Dhan's organisation and history

Dhan is a company established in 2021 by a group of Financial Market and Technology Professionals, including the former CEO of Paytm Money, Pravin Jadhav, along with co-founders Alok Pandey, Jay Prakash Gupta, and Raunak Rathi. The company was created under the Parent Company, Raise Financial Services, which was incorporated earlier in January 2021. Headquartered in Mumbai, Dhan was launched as the Flagship product of Raise Financial Services in November 2021.

With so much experience and knowledge in Financial Markets and Technology among the founding team members, Dhan leverages state-of-the-art technology. Pravin Jadhav's experience with Paytm Money has given him a deep understanding of the retail investing space. In contrast, Jay Prakash Gupta's over 15 years of experience across all three segments (equities, commodities, and currencies) enables Dhan to create new ways to serve the constantly evolving market needs of Indian Investors through innovation.

Recent Milestone

A significant milestone for Dhan has been reached: the parent company, Raise Financial Services, has successfully raised $120 million in Series B funding led by Hornbill Capital and supported by MUFG, BEENEXT, and several high-profile public market investors. The successful funding round enabled Dhan to reach unicorn status with an estimated valuation of $1.2 billion (approximately Rs 10,650 crore). This milestone demonstrates investors' confidence in Dhan's ability to continue growing its business and disrupt the retail trading marketplace.

Key Features and Offerings

Trading and Investment Products

Dhan serves an extensive range of investors, from active traders to passive investors, and users can diversify their portfolios by accessing a variety of asset classes, including stocks, ETFs, and Mutual Funds. Among Dhan's key features is its Margin Trading Facility (MTF), which enables users to trade on margin, offering added flexibility and greater capital efficiency.

In 2025, Dhan launched its Stock Rental product, which is a revolutionary feature within the Securities Lending and Borrowing Mechanism (SLBM). This service allows investors to earn passive income by lending their stocks in a regulated equity exchange environment. By offering two sources of income—capital appreciation and rental yield—this service provides investors with an additional income stream beyond their traditional investments.

Proprietary Tools and Innovations

At Dhan, innovation is the heart of our platform design. Dhan has introduced many industry-first features to improve ease of use and efficiency for users when executing trades on the platform. Locally developed, innovative solutions such as Instant Pledge & Unpledge (to streamline collateral management), Super Orders (to improve order execution), Instant Withdrawals (to provide quicker access to funds), and ScanX (our in-house research platform) provide users with highly actionable market data.

Regulatory Compliance and Licensing

The financial services industry in India is highly regulated, and therefore, Dhan has complied with the Indian Government's compliance standards. While no specific license numbers or detailed regulatory documentation are currently available for public review, Dhan operates its business under the regulatory framework for Stockbroking and Investment Advisory Services in India.

For authoritative and up-to-date regulatory details, users are encouraged to consult Dhan’s official website or contact their customer support directly.

Trading Conditions and Platform Technology

Trading Specifications

Dhan’s platform is designed to accommodate a wide range of trading styles and investment strategies. While exact spreads, leverage, and minimum deposit requirements are not publicly detailed, the platform offers competitive conditions aligned with industry standards in India’s discount broking space.

Moreover, Dhan’s technology infrastructure supports instant order execution, real-time portfolio tracking, and seamless integration of advanced features, ensuring a smooth and efficient trading experience.

Fee Structure

Dhan offers a transparent fee structure designed to appeal to retail investors and traders. While specific fee amounts for deposits, withdrawals, and inactivity are not publicly available, the platform is positioned competitively within the discount brokerage segment.

For precise fee details, prospective users should refer to Dhan’s official fee schedule or customer support channels.

User Experience and Market Reputation

Among Indian retail investors, there are nearly one million registered users. The National Stock Exchange of India lists Dhan as one of the top ten stock trading platforms by active clients, mainly due to its commitment to delivering an exceptional customer experience and its ability to cater to a diverse user base through an easy-to-use interface, cutting-edge product features, and superior service.

Dhan's technology-led innovation sets it apart from well-established discount brokers, such as Zerodha and Groww, with unique products like Stock Rental (a new concept in the retail investment space that leverages the SLBM – Stock Lending and Borrowing Mechanism). User feedback indicates that Dhan offers a simple user interface, fast execution, and access to extensive research tools.

Recent Developments

One of the most important recent developments for Dhan was the completion of the Series B funding round in January 2024, during which Dhan raised $120 million to elevate Raise Financial Services to unicorn status. This additional funding will drive innovation at Dhan in several ways, including the introduction of Artificial Intelligence-based Investment Products and expansion into additional financial service product categories.

In 2025, Dhan launched the Stock Rental product, a unique offering in the retail investment market in India. This innovative product enables investors to lend their securities and receive rental payments while maintaining ownership of the security asset and remaining exposed to the capital appreciation opportunities of the underlying security. This product provides another way for investors to generate passive income while still benefiting from the potential for capital gains from the underlying investment. This product launch demonstrates Dhan's commitment to providing more opportunities to its investors and enhancing their returns on their portfolios.

Conclusion

Dhan has been a highly innovative and disruptive player in the retail trading and investing space in India. Founded by fintech industry leaders, Dhan has developed an extensive product suite and leverages cutting-edge technology to deliver outstanding, empowering experiences for users. The continued rapid growth of Dhan, the significant capital raised, and the increasing number of users indicate that Dhan is well positioned to compete with long-standing players in the retail investing market.

Dhan's focus on regulatory compliance and continued innovation will allow them to have a significant impact on the retail investing landscape in India for many years to come. Consumers seeking a modern, technology-driven platform that offers a wide variety of products and unique features will find Dhan an attractive option as the financial services market continues to evolve.