Dhan appoints Ketan Shah as CEO of omnichannel business

Stock trading and investment platform Dhan on Monday announced the appointment of Ketan Shah as chief executive officer (CEO) of its omnichannel business.

Shah, who spent more than 25 years at Angel One, will lead Dhan’s expansion of investing and trading products across online and offline channels. He most recently served as Angel One’s chief strategy officer and board member.

“Dhan has demonstrated innovation in product, technology and customer service in the decades-old stock trading industry, and as a result, in a very short period of time, Dhan has become a platform of choice for super traders and long-term investors,” said Shah.


Pravin Jadhav, founder and CEO of Dhan, said the company’s growth so far has been largely online-focused. “With Ketan joining the leadership team, we have a very broad expertise of someone who's built his business across multiple channels," he told ET.

Jadhav added that under Shah’s leadership, Dhan will expand into omnichannel distribution of its stockbroking services through partners, while also broadening the distribution of other financial products.

Raise Financial Services, the parent company of Dhan, has been strengthening its leadership team to drive growth. In July, it appointed Amit Gupta as group chief financial officer.

Founded in 2021 by Jadhav, the former CEO of Paytm Money, Raise offers wealth management services and distributes a range of financial products. It owns and operates Dhan, a stock trading platform, competing with the likes of Zerodha and Groww.

Earlier this year, Raise acquired financial media startup Filter Coffee for an undisclosed sum. It also runs the stock market education platform Upsurge.club.

In 2022, Raise secured $22 million in its first institutional funding round from Mirae Asset Venture, Beenext, 3one4 Capital, and others.

In May, ET reported that Dhan is set to close a $190–200 million funding round led by ChrysCapital, which would value it at over $1 billion.