Dhan appoints Angel One’s Ketan Shah as CEO of omni channel biz

Stock trading platform Dhan has announced the appointment of Ketan Shah as Chief Executive Officer (CEO) of Omni Channel Business.

Shah brings over 25 years of rich experience in the stock broking industry, covering business, technology, distribution, revenue, and strategy. He joins Dhan’s leadership team to build and scale its omni-channel business and distribution of investing and trading products and other financial services.

Before joining Dhan, Shah was a key contributor at Angel One (formerly Angel Broking) for over 25 years. He was involved in its early journey, transformation into a digital business, public market listing, and scale-up to become one of the top 3 broking platforms in India. Most recently, he served as Chief Strategy Officer and Board Member at Angel One.

Headquartered in Mumbai, Raise Financial Services owns and operates several platforms, including Dhan, a stock trading platform for investors and traders; Upsurge, a platform for learning about finance and markets in India; ScanX, which provides market insights and intelligence for public market investors; and FilterCoffee, offering financial media.

Founded in January 2021 by Pravin Jadhav, Alok Pandey, Jay Prakash Gupta, and Raunak Rathi, Dhan last raised $22 million in January 2022. BEENEXT, Mirae Asset, 3one4 Capital, and Rocketship.vc are its major investors. The company was reportedly in talks to raise a large round.

In September last year, Dhan surpassed Paytm Money to enter the top 10 list, competing in a crowded market alongside players such as Groww, Zerodha, AngelOne, Upstox, Paytm Money, and PhonePe’s Share.

As per the latest NSE data, Dhan secured the 9th spot among stock brokers in August, with a 2.15% market share and 1 million clients.