How Angel One Aims to Be a Full-Stack Fintech

Angel One, which had just 1.8 million customers over 25 years in its physical avatar, transformed post-2019

- Dipti Sharma

From pioneering the use of walkie-talkies on Dalal Street to weathering the Ketan Parekh crash that nearly wiped out his capital, Dinesh Thakkar has built one of India's largest broking firms. Now, the founder, chairman and managing director of Angel One is looking to build a digital financial services powerhouse.

Angel One is expanding into wealth management, which Thakkar calls "a natural step". "Broking is volume-driven, while wealth and asset management are relationship-led. They're anchored in client trust and continuity—resulting in stable, predictable revenue streams with annuity-like characteristics," he told Mint in an interview.

The Shriram-Sanlam joint venture, the Jio-BlackRock AMC partnership, and Groww have already ventured into wealth management. Angel One named former Google tech leader Ambarish Kenghe as group CEO and brought in ex-Kotak Cherry head Srikanth Subramanian to lead its wealth management vertical, Ionic Wealth by Angel One.