PhonePe’s stockbroking platform Share.Market is undergoing a leadership change, with its CEO Ujjwal Jain stepping down after spending about four years with the company.
Jain shared the news through a public post, where he described his exit as the close of one chapter and the start of another. Rather than calling it a farewell, he hinted that he is preparing to begin something new, possibly another venture in the financial technology space.
He joined PhonePe in 2022 after the company acquired his startups, WealthDesk and OpenQ. These platforms were focused on helping users invest using research-backed strategies and simplified tools. Following the acquisition, Jain took charge of building PhonePe’s presence in the investment and stockbroking segment.
Under his leadership, Share.Market was launched in 2023 as part of PhonePe’s effort to expand beyond digital payments into a broader financial services platform. The idea was to tap into India’s growing base of retail investors and offer them an integrated investing experience.
However, the online broking space in India is highly competitive. Established players like Zerodha, Groww, and Angel One already have a strong foothold, making it challenging for new entrants to scale quickly. Share.Market has so far remained a relatively smaller player in this crowded market.
In his message, Jain looked back on his journey of building investment-focused products, starting from his early ventures to leading Share.Market. He also expressed optimism about what lies ahead, suggesting that he wants to take on new and bigger challenges.
Jain’s departure comes at a time when PhonePe is continuing to diversify its offerings and strengthen its position in the fintech ecosystem. The company, backed by Walmart, has been expanding into areas such as lending, insurance, and wealth management as it prepares for its next phase of growth.
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