5paisa.com appoints Narayan Gangadhar as CEO

Gangadhar, who worked with Google, Uber, and Amazon as a senior executive, will join 5paisa.com with immediate effect.

In February, Gangadhar announced his resignation as CEO of Angel One, effective May 16, 2023.

Gangadhar has over two decades of experience, mostly with global tech giants, based out of the San Francisco Bay Area in the US. He was the Head of Engineering at Uber, managing over 1,000 innovators and building core engineering platforms, core APIs, and cloud solutions to help Uber’s operations in over 500 cities worldwide.

Earlier, he was a senior director at Google helming the cloud engineering and infrastructure domains, where he was responsible for all external facing cluster computing products and was in charge of backend infrastructure. He 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.

5paisa.com is one of India’s largest discount brokers, with around 35 lac customers at the end of March 2023. The company reported a 216% jump in profit to Rs 43.6 crore in FY23, while revenues rose 14% to Rs 339 crore.

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Commenting on the appointment, promoter R Venkataraman said Gangadhar’s engineering skills and Silicon Valley experience with tech giants would complement the digital transformation priorities at 5paisa.com. “We look forward to a great period of growth and innovation at 5paisa.com under Gangadhar’s leadership. Technology on the infrastructure trading platform and user interface experience side will play a critical role in the brokerage industry going forward.”Commenting on his appointment, Gangadhar said, “5paisa.com was the original disruptor in the 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.”