Mumbai : 5paisa Capital Limited (5paisa.com), which is one of India’s leading discount brokers today said that it has appointed technology and wealth management industry veteran Gaurav Seth as Chief Executive Officer as it aims to deepen its offerings for traders and investors and further bolster its tech platform.
Seth has over two decades of experience building businesses at the intersection of financial services and technology globally with experience spanning the US, India and SouthEast Asia. Prior to joining 5paisa, he was the Chief Product Officer at Syfe where he focused on building Syfe as the leading digital wealth player in Southeast Asia. Earlier, Seth was the Chief Business Officer and part of the initial team at Paytm Money where he played a pivotal role in establishing Paytm Money as a top brokerage and mutual fund distributor in India. Prior to Paytm, Gaurav led the digital transformation of Morgan Stanley’s wealth management business in NY and advised leading wealth managers on their digital strategy.
Seth is an alumnus of the Indian School of Business, Hyderabad and Bachelor of Engineering from the Thapar Institute of Engineering & Technology, Patiala.
Commenting on the appointment, Co-Promoter Mr. R Venkataraman said, “Mr. Seth’s experience in tech driven innovations at major global and Indian firms will complement the digital transformation priorities at 5paisa Capital. We look forward to a great period of growth and innovation at 5paisa Capital under Mr. Seth’s leadership.
Commenting on his appointment, Mr. Gaurav Seth said, “5paisa Capital was the original disruptor in 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 this legacy and excited about the next phase of growth at 5paisa.”
5paisa.com is one of India’s largest discount brokers with more than 4.62 million customers at the end of September 2024. The company reported a net profit to Rs 219 million in Q2FY25, while revenues stood at Rs 1008 million. 5paisa.com is one of the most used stock investing apps in India with over 20.6 million users and has a high rating of 4.3 on Google Play.