Dhani Services Ltd, a fintech and health tech company promoted by Indiabulls’ Sameer Gehlaut, on Wednesday said that it is raising Rs1,200 crore from investors including General Catalyst, Ribbit Capital and Gehlaut.
The leading investor in the equity raise, General Catalyst, a Silicon Valley based investor, is investing Rs375 crore. General Catalyst has invested in companies like Stripe in the fintech space and Livongo in digital healthcare. The investment firm is focused on early-stage and growth investments in the technology sector.
The other investors in the round include Ribbit Capital, a leading global fintech investor with early-stage investments in Robinhood, Coinbase and Revolut. Gehlaut is also investing Rs375 crores alongside the other investors in the preferential round.
Dhani has over 30 lac paid monthly subscriptions and 90 lakh plus monthly active users, the statement said.
Dhani’s flagship product – OneFreedom Card provides customers with an instant credit limit along with a bouquet of additional benefits such as access to doctors, discounted medicines, instant cashbacks, free trading account and many merchant offers at a nominal monthly subscription fee starting at Rs250.
Dhani is a consumer business that operates through its app Dhani and provides transaction finance and digital healthcare to its customers. The company has a customer base of 3 crore customers spread across 500 cities in India.
Source: Mint