Stock broking platform Dhan has appointed Ketan Shah, who has worked over two decades at rival Angel One, as its Chief Executive Officer of Omni Channel Business.

Pravin Jadhav, founder and CEO of Dhan, wrote in a LinkedIn post that starting today with the appointment of Shah, Dhan is building a new chapter of growth via omni channels by enabling its partners to succeed by leveraging technology. 

"We have always believed that distribution of financial services including Investing and Trading products are massive opportunities via online, offline or via omni channels modes," added Jadhav.

Shah has worked for over 25 years at Angel One, formerly Angel Broking, starting at the company from its early journey to its initial public offering (IPO) in 2020.

In his latest role at Angel One, Shah was Chief Strategy Officer and Board Member.

The appointment of Shah comes amid fresh fund raising activity at Dhan's parent company Raise Financial Services. It had secured $22 million in funding during 2022 from investment firms including Mirae Asset Venture, Beenext and 3one4 Capital.

Established in 2021, Raise provides comprehensive wealth management and financial distribution solutions. Dhan, its primary offering, targets active and professional traders. It competes with Zerodha, Upstock and Groww, which recently filed revised draft papers for its Rs 6000-7000 crore IPO.

In July, Raise had appointed Amit Gupta as its Group Chief Financial Officer. Gupta had previously worked at Arka Fincap, Indostar Capital Finance and ICICI Bank.