This project is a deep dive into Dhan, a modern stock broking platform in India. The goal was to analyze its positioning, user journey, and opportunities for growth, while thinking from the lens of a Product Manager tasked with expanding Dhan’s reach beyond traders to long-term investors.

Founded in 2021, Dhan has quickly become one of India’s top 10 stock brokers with over 512,000 active clients. It offers a seamless trading experience across mobile and web, covering stocks, ETFs, mutual funds, options, futures, commodities, and currency trading.

Currently, Dhan is largely seen as a trader-first platform, which creates a gap in addressing long-term investors. The challenge was defined as:

Grow Dhan’s mutual fund investor base to 1M+ in 12 months

Reposition Dhan to appeal to long-term investors, while retaining its core trading audience

To achieve this, the strategy needed to focus on acquisition, activation, retention, referral, and revenue.

As a Product Designer, I took on the challenge of analysing Dhan from both a design and product strategy perspective. My role included:

Researching the market landscape and competitor positioning

Breaking down the user journey of traders vs. long-term investors

Identifying growth opportunities (esp. mutual funds)

Framing a product strategy using the acquisition → activation → retention funnel

Designing the storytelling and visuals that communicate complex data in a simple way

The mutual fund ecosystem is crowded with multiple players

Asset Management Companies (AMCs) – Create funds

Distributors – Push funds to customers

Stock Brokers – Provide platforms (like Dhan, Zerodha, Groww)

Information Players – Offer financial insights and discovery tools

Alternative Investing Platforms – Target niche investment opportunities

This competitive map highlighted where Dhan stands and where it could expand its value proposition.

Perception Shift Needed – From a trader’s platform to an investor’s trusted partner.

Acquisition Strategy – Leverage education, partnerships, and simple onboarding to bring in new mutual fund users.

Retention & Activation – Build long-term engagement features such as goal-based investing and SIP-focused journeys.

Trust as a Differentiator – Position Dhan as a safe, transparent, and customer-first platform.