Harish Devarajan, Co-Founder & Board Member of OpenTap also serves as CEO of Deep Value, a US cash equities algorithmic trading desk with offices in Boston, New York, and Chennai. Deep Value provides trading strategies and technology services to institutions in North America that trade stock in size. The firm is a dominant provider of algorithms to the Floor of the New York Stock Exchange. On its highest volume days the firm has traded over 5% of the overall US stock market volume.
Prior to Deep Value, Harish Devarajan worked at a proprietary trading desk at Deutsche Bank in New York as its Chief Operating Officer. As COO, Harish was responsible for the group’s technology effort; execution management (lead negotiator with various liquidity destinations to route over a quarter-trillion dollars' worth of Deutsche Bank N.A. order flow annually); and developing profitable trading strategies.
Earlier in his career, Harish founded and served as President of ShockMarket Corporation, a Silicon Valley-based financial services start-up venture funded by Deutsche Bank, among others.
Harish believes that the internet has not only brought people together, it has also brought people close to capital: money is inexpensive to move around. Further, biographies, earning power and credit worthiness are easier to share than ever before between borrowers and lenders. There are very many credit worthy Indians who have legitimate cash flow needs. With a population in the hundreds of millions not being served by the existing financial ecosystem, Harish and the team saw an opportunity to make a difference.
The challenge they faced in lending was to come up with a business model that would make for a sound business, but would break out of the zero sum mentality that lending enterprises fall prey to.They wanted to build a service that users would love, and be passionate advocates of – and it is this fundamental aspiration that has gone into how OpenTap works.
Harish holds advanced degrees in computer science and mathematics from the Massachusetts Institute of Technology and Stanford University.