Raise Financial Services announced that it had raised $22 million in a Series A funding round. BEENEXT and Mirae Asset Venture Investments led the round. The funding round also saw participation from 3one4 Capital, Rocketship.vc and angel investors such as Meesho co-founders Vidit Aatrey and Sanjeev Barnwal, Pine Labs CEO Amrish Rau, Udaan co-founder Sujeet Kumar, Jupiter founder Jitendra Gupta, and Sandeep Tandon of Whiteboard Capital, the company said in a statement.

The company said that $15 million of the funds would be invested in its stock trading platform Dhan where it is looking to have a 1 million user base in the next 15 months. The investment in Dhan will be made to support its product, engineering, operations, customer experience and teams. Raise also wants to set up technology-led consumer financial services in financing, insurance, investments, payments and wealth sector, the startup said.

“We are happy to find a product that fits with our first product Dhan among retail investors and super traders. With these funds, we plan to launch our second product in the investing sector, which is made for first-time investors, millennials and Gen Z,” Raise Financial Services CEO Pravin Jadhav said.