Google Pay VP Ambarish Kenghe Appointed as Angel One’s Group CEO

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Angel One, a leading Indian stockbroking firm, has appointed Ambarish Kenghe, former Vice President at Google Pay APAC, as its Group CEO. Kenghe will take over the role in March 2025. Known for his stellar track record in scaling Google Pay and pioneering innovations like Chromecast and Google TV, Ambarish Kenghe’s appointment signals Angel One’s commitment to leveraging technological advancements to boost its growth and market presence. The company, India’s third-largest stockbroking platform, reported significant financial growth in recent quarters and sees Kenghe as a transformative leader for its next phase of expansion.

Inside Angel One: A Growing Powerhouse in Stockbroking

Business Model and Revenue Streams

Angel One operates primarily as a stockbroking platform offering retail investors access to financial markets. Its services include equity and derivatives trading, mutual fund investments, portfolio management, and advisory services. The company’s revenue model is primarily based on brokerage fees, account maintenance charges, and commissions from third-party financial products.

Funding and Financial Background

Angel One has not relied heavily on external funding, building its reputation through organic growth. In the December 2024 quarter, the firm reported a 19.2% increase in revenue from operations, amounting to Rs 1,262.2 crore, compared to Rs 1,059 crore in the previous year. Its net profit rose by 8.1% to Rs 281.4 crore. These financial milestones underscore the company’s robust performance in a competitive market.

Founders and Leadership

Founded in 1996 by Dinesh Thakkar, Angel One began as a traditional stockbroking firm. Over the years, Thakkar’s vision transformed the company into a tech-driven platform, integrating AI and machine learning to provide personalized financial solutions. With Kenghe’s appointment, Angel One aims to further strengthen its technology-driven approach.

Ambarish Kenghe: A Visionary Leader

Career Highlights

Ambarish Kenghe’s impressive career spans over two decades. At Google Pay APAC, he played a pivotal role in scaling the app’s user base and enhancing India’s UPI ecosystem. He was instrumental in launching Chromecast and contributed significantly to the development of Google TV. Prior to Google, Kenghe served as Chief Product Officer at Myntra, where he led AI/ML innovations that revolutionized India’s fashion e-commerce space.

Vision for Angel One

Dinesh Thakkar, Chairman and Managing Director of Angel One, expressed confidence in Ambarish Kenghe are ability to steer the company into its next growth phase. “With his proven track record of driving innovation and deep expertise in the industry, he is the visionary leader we need,” Thakkar stated.

Angel One’s Market Position and Future Prospects

Industry Standing

Angel One holds the position of the third-largest stockbroking platform in India, trailing behind Zerodha and Groww. The company boasts 7.75 million active clients and a market share of 15.67%.

Competitive Edge

Angel One’s tech-driven initiatives, such as AI-powered analytics and user-friendly mobile applications, have been key differentiators. The firm’s commitment to innovation aligns with Kenghe’s expertise in building scalable tech solutions, making his appointment a strategic move.

Learnings for Startups and Entrepreneurs

1. Leverage Leadership: Hiring leaders with proven tech expertise can propel companies into new growth phases.
2. Tech Integration: Investing in AI and ML can significantly enhance customer experience and operational efficiency.
3. Market Adaptation: Continuously innovate to remain competitive in a rapidly evolving industry.
4. Sustainability in Growth: Focus on organic growth and financial stability to build a resilient business.

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