Ujjwal Jain, CEO of PhonePe’s stockbroking platform Share.Market and its wealth management verticals, has stepped down after 4 years on the Walmart-backed fintech agency.

In a LinkedIn submit asserting his departure, Jain known as it the tip of a “decade-long Chapter 1” and hinted at a recent begin.

“This isn’t a goodbye. It is a relaunch,” he wrote, including: “Decade lengthy Chapter 1 is closed. Chapter 2 begins now, and the limitations I need to break are greater.”

Jain joined PhonePe in 2022 following the acquisition of his ventures, WealthDesk and OpenQ, in a deal valued at about $75 million.

WealthDesk, based in 2016, enabled customers to put money into diversified baskets of shares and exchange-traded funds, whereas OpenQ centered on quantitative analysis and portfolio analytics. The acquisitions marked PhonePe’s entry into wealth administration.

As a part of the deal, Jain and his staff had been tasked with constructing Share.Market, the corporate’s funding and stockbroking platform, which launched in 2023 as PhonePe sought to increase past its core digital funds enterprise.

Regardless of heavy advertising and marketing spending, Share.Market has struggled to achieve floor in a extremely aggressive sector dominated by platforms akin to Groww, Zerodha and Angel One.

As of February 2026, it had secured round 0.5% market share, putting it among the many prime 20 stockbroking platforms. Information from the Nationwide Inventory Trade exhibits the platform had about 229,383 energetic traders at the moment.

In regulatory filings, PhonePe reported property below administration of Rs 5,838 crore in its mutual fund distribution enterprise as of September final yr, alongside 2.3 million month-to-month systematic funding plans and 1.26 million demat accounts.

Jain didn’t disclose his subsequent transfer however indicated a give attention to alternatives in an “AI-first world”, notably in capital markets and wealth administration.

“An AI-first world is rewriting each business — and capital markets and wealth administration are not any exception. I am entering into with extra boldness, extra readability, and extra hearth than ever earlier than,” he wrote.

His departure comes after PhonePe temporarily paused its planned IPO, with the corporate citing geopolitical tensions and market volatility. Studies have additionally pointed to pricing issues.