Raise Financial Services, the parent company of investment tech platform Dhan, has launched a new app called Millions aimed at Gen Z and first-time investors, according to inc42.com. The app allows users to invest in mutual funds, stocks, SIPs, and IPOs using a goal-based investment strategy. Millions is SEBI-regulated and currently does not charge onboarding or brokerage fees for direct equity investments.
The launch of Millions addresses the distinct investment goals of younger generations, which often focus on generating alternate income, building side hustles, or pursuing personal passions. Raise cofounder and CEO Pravin Jadhav explained that traditional investing experiences are product-focused and complex, whereas Millions simplifies investing by aligning it with users’ goals and outcomes. The app charges minimal fees: ₹20 or 0.03% for equity, ETF, intraday, and margin trades, and a flat ₹20 per order for equity futures and options.
Millions enters a competitive market where investment platforms are increasingly targeting younger demographics with simplified, goal-oriented tools. By combining access to a variety of products with a user-friendly interface, Millions aims to make investing more relevant and approachable for new-age traders. The minimum SIP amount on the platform starts at ₹500, making it accessible for small investors. This launch follows a broader trend of fintech companies tailoring services to the financial habits and aspirations of Gen Z.
The Millions app is now available to users and is positioned to capture a growing segment of young investors in India. Raise Financial Services’ move reflects a strategic effort to diversify its offerings beyond Dhan and tap into the evolving needs of emerging investors.