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Milestone · Financial Services

Dhan crosses 1 million users in February 2026

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Date
Company
Dhan
What it does
Discount broking platform
Kind
Milestone
Sector
Financial Services

What they do

Dhan is a discount broking platform that lets users trade stocks and invest

What happened

It crossed 1 million active users in February 2026, adding 19,000 new users

Why it matters

Dhan recently became a unicorn (startup valued over $1 billion)

The details

  • Dhan crossed 1 million active users in February 2026.
  • It added 19,000 new users during that month.
  • Dhan's market share in India's retail broking industry stood at 2.24%.
  • The total number of active retail broking users in India was 4.54 crore in February 2026.
  • This was up from 4.51 crore in January 2026.
  • Dhan recently turned a unicorn (startup valued at over $1 billion).

The bigger picture

  • Groww, the market leader, had 1.27 crore users and a 28.03% share.
  • Zerodha had 68.72 lakh users and a 15.11% share.
  • Upstox lost 27,000 accounts in the same month.
  • Dhan's growth comes as the overall broking user base expanded slowly.

About the business

  • Dhan is a discount broking platform that allows users to trade stocks and invest.
  • It competes with larger players like Groww, Zerodha, and Angel One.
  • The platform recently achieved unicorn status.

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