PhonePe’s Share.Market CEO Ujjwal Jain Steps Down After Four Years
Before joining PhonePe, Jain founded WealthDesk in 2016, a platform that enabled users to invest in curated baskets of stocks and ETFs. He also launched OpenQ, focused on quant-led research and portfolio analytics.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Ujjwal Jain, CEO of PhonePe’s stockbroking platform Share.Market and its wealth management verticals, has stepped down after nearly four years with the Walmart-backed fintech firm. His exit comes as PhonePe continues to expand beyond its core payments business.
Jain announced his departure in a LinkedIn post, calling it the end of a long entrepreneurial phase. “This is not a goodbye. This is a relaunch,” he wrote, adding that it marks the close of a “decade-long Chapter 1.”
Before joining PhonePe, Jain founded WealthDesk in 2016, a platform that enabled users to invest in curated baskets of stocks and ETFs. He also launched OpenQ, focused on quant-led research and portfolio analytics.
In 2022, PhonePe acquired both startups for around USD 75 million to enter the wealth management space. Jain then joined the company to build its investment offerings, including Share.Market, which was launched in 2023.
Despite heavy marketing spends, Share.Market has struggled to gain traction in a segment dominated by Groww, Zerodha, and Angel One. As of February 2026, it held about 0.5 percent market share, placing it among the top 20 platforms. A similar trend has been seen in its wealth management vertical.
Hinting at what lies ahead, Jain said his next move will be shaped by opportunities in an “AI-first world,” particularly across capital markets and wealth management.
Ujjwal Jain, CEO of PhonePe’s stockbroking platform Share.Market and its wealth management verticals, has stepped down after nearly four years with the Walmart-backed fintech firm. His exit comes as PhonePe continues to expand beyond its core payments business.
Jain announced his departure in a LinkedIn post, calling it the end of a long entrepreneurial phase. “This is not a goodbye. This is a relaunch,” he wrote, adding that it marks the close of a “decade-long Chapter 1.”
Before joining PhonePe, Jain founded WealthDesk in 2016, a platform that enabled users to invest in curated baskets of stocks and ETFs. He also launched OpenQ, focused on quant-led research and portfolio analytics.
In 2022, PhonePe acquired both startups for around USD 75 million to enter the wealth management space. Jain then joined the company to build its investment offerings, including Share.Market, which was launched in 2023.
Despite heavy marketing spends, Share.Market has struggled to gain traction in a segment dominated by Groww, Zerodha, and Angel One. As of February 2026, it held about 0.5 percent market share, placing it among the top 20 platforms. A similar trend has been seen in its wealth management vertical.
Hinting at what lies ahead, Jain said his next move will be shaped by opportunities in an “AI-first world,” particularly across capital markets and wealth management.
