Dhani Services Limited (formerly Indiabulls Ventures) is a diversified fintech and health-tech platform, headquartered in New Delhi. Founded by Sameer Gehlaut, Dhani operates a super-app offering services in digital lending, healthcare, broking, payments, and e-commerce under one ecosystem.
Business Overview
Dhani’s business model revolves around:
Digital Lending : Subscription-based personal and business loans without traditional interest.
Healthcare : Online doctor consultations, pharmacy services, and wellness packages.
Broking & Payments : Equity trading, commodity markets, and integrated wallets.
E-Commerce & Subscriptions :Buy-now-pay-later services with product bundling.
Despite top-line growth, margins have been a point of investor watch, with efforts underway to improve operational efficiency.
Financials (FY2024) Revenue : ₹293 crore (up 33% YoY)
QIB bids : 108×
Net Loss : ₹55 crore (reduced from ₹368 crore in FY23)
Though losses persist, the company has significantly reduced its cash burn and is moving toward operating profitability.
Contact Us
Strengths
Unique subscription-based lending and healthcare model.
Large user base with high cross-sell potential.
App-based infrastructure with scalable fintech backend.
Risks
Continued net losses and volatile margins.
Regulatory scrutiny around subscription lending models.
High competition in fintech and health-tech space.
Outlook : Dhani is innovating at the intersection of finance and wellness. However, sustained profitability and regulatory clarity will be crucial for long-term investor confidence.
Contact Us
Let’s get in touch with us
