5paisa Capital Limited (5paisa.com), which is one of India’s fastest growing discount brokers today said that it has appointed former Google, Uber and Amazon senior executive Mr. Narayan Gangadhar as Chief Executive Officer with immediate effect as it aims to improve its cutting-edge tech platform and accelerate digital transformation.
Mr. Gangadhar has over two-decades of experience, mostly with global tech giants, based out of San Francisco Bay Area in the US. Mr. Gangadhar was the Head of Engineering at Uber managing over 1,000 innovators, building core engineering platforms, core APIs and cloud solutions to help Uber’s operations in over 500 cities across the world. Earlier, Mr. Gangadhar was a Senior Director at Google helming the cloud engineering and infrastructure domains, where he was responsible for all external facing cluster computing products as well as in charge of backend infrastructure. Mr. Gangadhar also worked with Amazon as Director of Engineering, where he built Amazon Relational Database Service. He started his career with Microsoft and worked in various engineering roles. Most recently, Gangadhar was CEO of Angel One.
Mr. Gangadhar is a Bachelor of Engineering from Mumbai University and a Master in Computer Science from Worcester Polytechnic Institute.
Commenting on the appointment, Promoter Mr. R Venkataraman said, “Mr. Gangadhar’s engineering skills and Silicon Valley experience with tech giants will complement the digital transformation priorities at 5paisa.com. We look forward to a great period of growth and innovation at 5paisa.com under Mr. Gangadhar’s leadership. Technology, both on infrastructure trading platform and user interface experience side will play a critical role in brokerage industry going forward.”
Commenting on his appointment, Mr. Narayan Gangadhar said, “5paisa.com was the original disruptor in Indian broking industry and democratized equity investing for millions of Indians by offering a great platform at affordable fees. I am happy to be a part of the legacy and excited about the accelerated digital transformation journey ahead.”
5paisa.com is one of India’s largest discount brokers with around 35 lac customers at the end of March 2023, up 27% year-on-year. The company reported a 216% jump in profit to Rs 43.6 crore in FY23, while revenues rose 14% to Rs 339 crore. 5paisa.com is one of the most used stock investing apps in India with over 15 million users and has a high rating of 4.31 on Google Play. In December 2022, 5paisa.com announced merger of online retail trading business of IIFL Securities with itself in an all-stock deal, which will add over 15 lac customers to 5paisa.com’s business once the deal is through, taking the total customer count to 50 lacs.
