🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

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

EntrackrEntrackr · 3m ago
Dhan appoints Angel One’s Ketan Shah as CEO of omni channel biz
Medial

Dhan appoints Angel One’s Ketan Shah as CEO of omni-channel biz. Shah joins Dhan’s leadership team to build and scale its omni-channel business and distribution of investing and trading products and other financial services. 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.

2

Related News

Exclusive: Dhan delivers 45X returns to Kunal Shah, PhonePe founders and other angels

EntrackrEntrackr · 10d ago
Exclusive: Dhan delivers 45X returns to Kunal Shah, PhonePe founders and other angels
Medial

Exclusive: Dhan delivers 45X returns to Kunal Shah, PhonePe founders and other angels Fintech investing platform Dhan has facilitated early-stage exits, with several angels and early investors securing hefty returns through a secondary transaction executed alongside its ongoing Series B round, according to sources aware of the matter. “Few angels who are building competing businesses, including Cred’s Kunal Shah, Miten Sampat, and members of the PhonePe founding network, have secured a full exit, generating nearly a 45X return in under four years,” said one of the sources, requesting anonymity. “This is one of the quickest and highest-multiple exits for angel investors in fintech in recent memory,” said the source cited above. According to the sources, early backers Mirae, Beenext, and 3one4 Capital have sold part of their holdings, earning 9–10X returns within three years. The secondary component was executed in parallel with Dhan’s $120 million Series B round, led by Hornbill Capital and featuring participation from MUFG Bank, Beenext, and a pool of public-market investors and family offices. Dhan currently has $160–180 million in cash on its balance sheet, and the primary money from the Series B will also be utilised for the acquisition of Statzy and some more potential startups, the sources added. Entrackr reached out to Dhan on Thursday for comments on the secondary transaction and will update the story if they respond. Kunal Shah and Miten Sampat declined to comment. PhonePe co-founders confirmed the exit but did not comment on returns earned. We have also reached out to Beenext, 3One4 Capital, and Mirae Asset. Founded in 2021 by Pravin Jadhav, Dhan operates as a stockbroking and investment platform aimed at active traders and Gen Z investors. It offers equity, ETF, and futures and options trading across NSE, BSE, and MCX, along with integrations for smallcase, TradingView, and MoneyControl to enhance user experience. Financially, Dhan has reportedly achieved strong performance, clocking around Rs 900 crore in revenue during FY25 against Rs 380 crore in FY24, while maintaining cash-flow positivity for multiple years. Dhan joins the growing list of profitable stockbroking unicorns in India, alongside Zerodha, Groww, and Angel One.

Download the medial app to read full posts, comements and news.