BENGALURU – Ujjwal Jain, the Chief Executive Officer of Share.Market at PhonePe, has announced his departure from the company. Jain’s exit marks the end of a significant chapter that saw the integration of his ventures into PhonePe’s expanding financial services ecosystem.
In a LinkedIn post reflecting on a decade in the industry, Jain stated, “Decade-long Chapter 1 is closed. Chapter 2 starts now—and the barriers I want to break are bigger.”
A Decade of Capital Market Innovation
Jain joined the PhonePe leadership team in 2022 following the acquisition of his startups, WealthDesk and OpenQ. His tenure was defined by a mission to modernize retail broking in India:
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Ecosystem Building: He played a central role in transitioning WealthDesk and OpenQ into Share.Market, PhonePe’s dedicated platform for stocks and ETFs.
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Intelligence-Led Broking: Focused on “infusing intelligence” into retail trading, helping reshape how Indian retail investors interact with capital markets.
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Strategic Integration: Successfully navigated the post-acquisition phase to align his specialized investment platforms with PhonePe’s massive user base.
Entrepreneurial Journey
Jain’s career has been characterized by building high-tech investment solutions from the ground up. He noted that what began as a “vulnerable” start ten years ago eventually “snowballed into an ecosystem” built through “sweat, code, and sheer will.”
Future Outlook
While Jain has not specified his next move, he hinted at a “relaunch” driven by a desire to break even larger barriers within the industry. His departure comes at a time when PhonePe is aggressively scaling its wealth management and broking divisions to compete with established players like Zerodha and Groww.
