Bengaluru: Raise Financial Services, a fintech startup founded by former Paytm executive Pravin Jadhav, on Tuesday announced the launch of its investing and trading application programming interface (API) platform, DhanHQ.
Through the launch of DhanHQ, users will be able to deploy their trading strategies, as well as build their own trading platform to align to their specific requirements, trade logic, and execute trades through Dhan, the company said in a statement.
According to Raise, DhanHQ is designed for traders, portfolio managers as well as stock brokers, allowing them to connect with Dhan’s platform for execution of trades via APIs. With the launch of DhanHQ, Raise Financial will also help fintechs and banks offer plug-and-play investing and trading solutions for users on their platform.
The APIs are offered for free to its partners, and Dhan will also assist these partners to get required exchange approvals and certifications before their product and application goes live for their users.
“With DhanHQ, we are extending the experience we provide to Dhan’s users to our partners via APIs. We are very excited with the opportunity as it is a step in the direction of helping trading platforms integrate with Dhan and for fintech platforms and banks to offer investing and trading in stock markets to their users in just a few days.” said Pravin Jadhav, founder and chief executive officer (CEO) of Dhan.
Also Read:Pravin Jadhav's Raise Financial launches Dhan investing app for early access
Discover the stories of your interest
Through the APIs, Dhan will also give users access to historical data, order management market feeds, portfolio reporting, adding funds, margin utilisation and much more.
Currently, Dhan has partnered with trading and investment-oriented platforms including –TradingView, TradeTron, Algoji, Stratzy, Algomojo, GoCharting, SquareOff, among others. It is in the process of integrating with 25 more partners, in the coming days.
The new product launch comes as Dhan’s parent, Raise Financial Services raised $22 million in a new funding round, last month, led by Beenext and Mirae Asset Venture Investments.
Earlier in August, last year, Raise had also announced the acquisition of Mumbai-based stock broker Moneylicious Securities. The company was looking to launch new products for everyday stock traders and long term investors, through the Moneylicious acquisition.
Other angel investors in Raise include – Dream11’s Harsh Jain, Zomato’s Deepinder Goyal, Unacademy’s Gaurav Munjal and Razorpay’s Harshil Mathur, along with others.
