Ketan Shah Appointed as CEO of Dhan

Dhan, a notable stock trading platform, has recently announced the appointment of Ketan Shah as the Chief Executive Officer (CEO) for its Omni Channel Business. Shah comes with an extensive background, boasting over 25 years of valuable experience in the stock broking sector, encompassing various areas such as business management, technology, distribution, revenue generation, and strategic planning. His addition to Dhan’s leadership team aims to advance and expand its omni-channel business model along with the distribution of trading and investment products and diverse financial services.

Ketan Shah’s Previous Experience

Before taking on the role at Dhan, Shah significantly contributed to Angel One, previously known as Angel Broking, for over 25 years. He played a pivotal role in the early growth phases of the company, assisting in its transformation into a digital business, facilitating its public market debut, and enabling it to scale up to rank among the top three broking platforms in India. His most recent positions were as Chief Strategy Officer and Board Member at Angel One.

Dhan and Its Parent Company

Based in Mumbai, Raise Financial Services is the parent company of several platforms including Dhan, which serves investors and traders in the stock market; Upsurge, designed for financial education regarding markets in India; ScanX, which offers insights and intelligence aimed at public market investors; and FilterCoffee, which provides financial media resources.

Recent Financial Developments

Dhan was established in January 2021 by Pravin Jadhav, Alok Pandey, Jay Prakash Gupta, and Raunak Rathi. In January 2022, the firm raised an impressive $22 million, with key investments from BEENEXT, Mirae Asset, 3one4 Capital, and Rocketship.vc. Reports indicate that the company is in negotiations to secure a substantial funding round.

Dhan’s Market Position

In September of the previous year, Dhan made significant strides by surpassing Paytm Money, placing itself in the top 10 list of stock trading platforms. It competes in an intensely crowded market with other notable players such as Groww, Zerodha, AngelOne, Upstox, Paytm Money, and PhonePe’s Share. According to the latest data from NSE, Dhan achieved the ninth position among stock brokers in August, capturing a market share of 2.15% and accumulating a client base of 1 million.