Entrepreneurship

Former Paytm Money CEO launches his own financial services platform with an investment from Mirae, and several other major startup founders

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  • Pravin Jadhav, the former managing director and chief executive officer of Paytm Money, has launched his own financial services platform – Raise Financial Services.
  • Raise will offer financial services across financing, insurance, investments, payments and wealth.
  • The startup’s seed funding round is led by Mirae Asset Venture Investments, which is an India-focussed fund launched by South Korean firm Mirae in January 2021.

Pravin Jadhav, the former managing director and chief executive officer of Paytm Money, has launched his own financial services platform – Raise Financial Services. Jadhav, who had reportedly quit Paytm due to growing differences with the founder Vijay Shekhar Sharma, has found his way back into financial services.

“This time I am not starting from scratch, I am starting from my experiences. I have done it before, and I aim to do it again – raise the bar! This time even higher with Raise Financial Services,” he wrote in a blog.

Jadhav wrote that Raise will offer ‘technology-led consumer products & infrastructure services to serve Indians with financial services (across financing, insurance, investments, payments and wealth).’

The startup has raised investments from Mirae Asset Venture Investments, which is an India-focussed fund launched by South Korean firm Mirae in January 2021. Raise is their first investment through the fund. It has also raised investments from Multi-Act Private Equity, Blume Ventures and US based early-stage investor Social Leverage, among multiple other startup founders.

Here are some of the founders and startup leaders who have pooled in to invest in Raise, and interestingly many operate in the financial services space themselves

Kunal Shah Cred, Freecharge
Kalyan Krishnamurthy Flipkart
Amod Malviya & Sujeet Kumar Udaan
Sameer Nigam & Rahul Chari PhonePe
Amrish Rau Pine Labs, Citrus Pay
Sandeep Tandon Freecharge
Anupam Mittal Shaadi.com
Jitendra Gupta Jupiter, Citrus Pay
Girish Mathrubootham Freshworks
Nischal Shetty WazirX
Kuldeep Dhankar Clevertap, Microsoft, Nokia

The Mumbai-based startup is now hiring aggressively across leadership roles.

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