Rare Rabbit raising $61Mn from A91 Partners

- Raise Financial Services, the parent company of trading app Dhan, is in early discussions to raise $100 million, potentially boosting its valuation to $1.5 billion and entering the unicorn club. - Investment banking firm Avendus has been shortlisted to manage the fundraising, with new and existing investors expected to participate. - The fresh funds will be used for business expansion, including new services like financing, payments, and insurance, to compete with rivals such as Groww, Zerodha, and Upstox. - Dhan's founder, Pravin Jadhav, previously led Paytm Money but left on contentious terms; he has since taken jabs at his former employer on social media. - Despite a competitive market, Dhan has seen significant growth, with a 330% year-over-year increase in its active client base, while competitors like Paytm Money have struggled. Source: Moneycontrol

So Zepto was the first, InCred becomes the second one. 2 unicorns this entire year 🙀

- Bengaluru-based fintech startup Stable Money has raised INR 123.5 Cr (about $14.7 Mn) in its Series A funding round led by RTP Capital. - The round also saw participation from existing investors Matrix Partner and Lightspeed Ventures. - The board at Stable Money passed a special resolution to issue 77,135 Series A Compulsory Convertible Preference Shares (CCPS) at an issue price of INR 16,019 each to raise INR 123.56 Cr, as per regulatory filings. - The financing round appears to be ongoing and Stable Money is likely to raise more capital in Series A funding. - Founded by Saurabh Jain and Harish Reddy in 2022, Stable Money offers fixed-return asset investment opportunities for retail investors, such as access to fixed deposits, debt mutual funds, and bonds. Source: Inc42

- Ather Energy, an electric two-wheeler manufacturer, secured $71 Mn (INR 600 Cr) from National Investment and Infrastructure Fund (NIIF), valuing the company at $1.3 Bn post-money. - NIIF was an investor in Ather's Series E round, which raised $128 Mn alongside Hero MotoCorp and others. - Ather Energy is planning a public listing by the end of 2024, targeting a valuation of around $2 Bn. - The company reported a net loss increase of 22.5% to INR 1,059.7 Cr in FY24, while revenue from operations slightly rose to INR 1,789.10 Cr. - Ather joins India's unicorn club, following recent entries like Krutim AI, Perfios, and Rapido. Source: [Inc42](https://inc42.com/buzz/ather-energy-joins-unicorn-league-by-raising-71-mn-funding-from-niif/)

- Wealthtech firm Neo has secured Rs 400 crore in a funding round led by Japan’s MUFG Bank and New York-based Euclidean Capital LLC. - The funds will be used to expand Neo's wealth-management division and enhance sponsor support for its asset management business. - Neo's equity base now stands at Rs 1,000 crore, marking a significant milestone for the company. - India's wealth management market is projected to grow at a CAGR of 4.56% during 2025–2029, driven by new-age startups and rising affluent class. - Neo, launched in 2021, manages nearly Rs 35,000 crore in wealth management assets and is seeking an NBFC license to offer short-term loans. Source: [Moneycontrol](https://www.moneycontrol.com/technology/peak-xv-partners-backed-wealthtech-firm-neo-raises-rs-400-crore-led-by-mufg-euclidean-capital-article-12793512.html)

Loyal equipment has raised 15 Crore capital from HNI investors for business growth Source: sovrenn.com/education

How do they even raised money at 1B Valuation

Despite the funding winter environment, higher management woes and business model doubts they raised a colossal $200mn. Any inside beans to spill here?