Brands
Angel One names Ambarish Kenghe as group CEO
MUMBAI: Known affectionately in fintech circles as AK-no, not the Indian cinema stalwarts Anil Kapoor or Anurag Kashyap-Ambarish Kenghe is poised to script his own blockbuster.
Angel One has unveiled its ace move, appointing Kenghe as group CEO effective March 2025, marking a bold step in its quest to revolutionise the fintech space. This leadership shake-up signals Angel One’s unyielding commitment to innovation, cementing its role as a trailblazer in the ever-evolving digital financial ecosystem.
Kenghe is a renowned technology and product leader with a distinguished career spanning fintech, e-commerce, and consumer electronics. Most recently, as Google Pay APAC vice president & general manager, he played a critical role in expanding Google Pay’s footprint and strengthening India’s UPI ecosystem. He also contributed significantly to the development of Chromecast and Google TV.
Before joining Google, AK served at Myntra as chief product officer, where he led AI/ML-driven innovations that transformed fashion e-commerce. Earlier in his career, he was a strategy consultant at Bain & Company in San Francisco and a high-speed switching engineer at Cisco Systems in San Jose. A prolific inventor with four patents, AK’s academic achievements include degrees from UC Berkeley, Purdue University, IIT Kanpur, and AMU.
Expressing his enthusiasm for the new role, Kenghe said, “I am truly honoured to be part of Angel One, a brand that has been at the forefront of transforming India’s fintech landscape. With its focus on innovation and customer-centricity, Angel One has built a strong foundation. I am eager to work with the talented team to drive the next phase of growth and empower users with advanced financial solutions.”
Angel One chairman & MD, Dinesh Thakkar welcomed Kenghe with optimism, stating, “Ambarish’s appointment as CEO marks an exciting new era for Angel One. With his proven track record of driving innovation and deep expertise in the industry, he is the visionary leader we need to propel us into our next chapter of growth. At Angel One, we believe strong leadership shapes the future of fintech. Ambarish’s guidance will position us not only to keep pace with the ever-changing financial landscape but also to lead the charge in transforming how financial services are delivered, empowering our customers with groundbreaking solutions and unparalleled value.”
Angel One continues to drive the fintech revolution, with this leadership appointment reflecting its commitment to providing groundbreaking, customer-centric financial solutions.
Brands
UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
