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Hornbill Capital submits $200 million bid to invest in Dhan at $1.25 billion valuation

Economic Times · 2m

Hornbill Capital, backed by Orchid Asia, has placed a $200 million bid to invest in stock trading platform Dhan at a $1.25 billion valuation. This bid is the largest among contenders in Dhan's funding talks, which also include ChrysCapital. Dhan, profitable and founded in 2021, competes with Groww and Zerodha. The investment round is expected to conclude in 30-40 days, potentially making Dhan India’s first unicorn of 2025.