Raise Financial Services, a financial technology startup focused on long-term investors and super traders, has entered into a definitive agreement to acquire Valuationary, an EdTech platform that upskills candidates with practical knowledge through self-paced courses curated by industry experts, in a cash and stock deal.
With this acquisition, Raise aims to strengthen its investment and wealth stack by enabling investors and traders to learn about markets via Valuationary’s courses.
As a part of the deal, Raise will also invest further in Valuationary to launch new products in existing and new formats, which include short-form content and micro-courses covering various financial topics including stock markets, trading, insurance, international investing, and more.
Post the acquisition, Valuationary will join and operate from Raise Financial’s headquarters in Mumbai along with its 15-member team including the founders.
Founded in 2020 by first-time entrepreneur and finance professionals Pratik Bajaj, Kunal Shah, and Mahip Gupta, Valuationary is an online learning platform that helps young professionals in the financial sector to upskill themselves. The platform enables upskilling through its courses, and live sessions, where it tries to simplify financial news and information.
Valuationary's mission is not only to provide jobs through skilling but also to contribute to an individual's career through a continuum of opportunities and growth.
Commenting on the acquisition, Founder of Raise Financial Services, Pravin Jadhav, said,
"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."
Raise Financial Services, started by former Paytm Money CEO Pravin Jadhav in January 2021 and owns and manages stock trading platform Dhan which competes with the likes of Groww, Zerodha and Upstox.
The investment firm had also launched an application programming interface (API) platform, DhanHQ, this year to help active traders deploy their trading strategies and help them to build their own trading platform aligned to their specific needs.
Co-founder of Valuationary, Kunal Shah, added:
"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."
Last year in August, the company had also acquired Mumbai-based stock broker Moneylicious Securities. The idea was to launch a new investment app for regular everyday stock traders and long term investors, through the Moneylicious acquisition.
Earlier this year, Raise Financial Services had raised $22 million in its Series A funding round led by Mirae Asset Venture Investments, Beenext, 3one4 Capital, and Rocketship VC, among others.