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IndustryFinancial services
Founded 📆2009; 13 years ago (2009)[1]
Founders 👔Raghu Kumar, Ravi Kumar and Shrini Viswanath[2]
Headquarters 🏙️Mumbai, India
Area served 🗺️
Electronic trading platform
Revenue🤑 Increase 155 crore (US$22 million) (2020)[3]
Number of employees
180[4] (2019)
📇 Address
📞 telephone

Upstox is an electronic trading platform that was launched in 2016, provided by RKSV Securities.[5][6] It is a SEBI regulated broker-dealer and is a member of BSE, NSE and MCX.[5] Upstox operates on a discount brokerage model[7]; in October 2020, Upstox was named India's second largest stock broker in terms of number of retail customers.[5][8] As of January 2021, Upstox has no storefront branches, its entire operation is online with a flat-fee structure, servicing over 2 million customers.[8][9]


RKSV Securities Private Limited was founded by the brother-duo Ravi Kumar and Raghu Kumar, along with Shrini Viswanath; the initials of the founding members were used to register the company.[6] At inception, in 2009, the company was focused on proprietary trading.[8] In 2012, the company introduced its online retail broking service.[8] In 2016, RKSV Securities introduced Upstox, a technology platform for trading securities. Upstox is available as a mobile app and website.[8] In 2019, Upstox partnered with Tavaga Advisory Services to promote ETF.[10] In June 2018, Upstox onboarded first 100K customers, by June 2020 the customer count crossed 1 million, and by January 2021 the customer count crossed 2 million.[1][9] In 2020, Upstox reported a net income of ₹155 crores and a loss of ₹38 crore.[3] In September 2020, about 80% of Upstox customers were from the tier 2 and tier 3 towns of India, and about 75% of them were below the age of 35.[8][10]


In 2016, Upstox raised funding of US$4 million in a series A round with Kalaari Capital, Ratan Tata and GVK Davix Technologies.[4] In 2019, Upstox raised funding of US$25 million with Tiger Global Management.[4] As on September 2019, Ratan Tata held 1.33% stake, Kalaari Capital held 15.21% stake and GVK Davix held 2.54% stake in Upstox.[11]

Products and services[edit]

Upstox offers an electronic trading platform to trade financial assets including common shares, preferred shares, Initial Public Offering, derivatives, currencies, commodities, exchange-traded funds, mutual funds and digital gold over a website and a mobile app.[5][12] Upstox enables customers to make use of electronic Adhar (e-Adhar) for account opening[9], has implemented an electronic delivery instruction slip to eliminate the need of a physical delivery instruction slip or the power of attorney[13], and offers margin trading facility.[9]


  1. 1.0 1.1 Bhargava, Kshitij (June 23, 2020). "With 1 million users onboard, this new-age brokerage aims to double the tally by December; here's how". Financial Express. Retrieved January 4, 2021.
  2. Vasudevan, Nishanth (September 14, 2014). "How a two-year-old firm is hitting a daily turnover of Rs 4,000 crore today". The Economic Times. Retrieved January 4, 2021.
  3. 3.0 3.1 Mohan, Ashwin (March 30, 2021). "Online broker Upstox, backed by Ratan Tata and Tiger Global, weighs US SPAC listing". Retrieved May 1, 2021.
  4. 4.0 4.1 4.2 Bhakta, Pratik (September 20, 2019). "Upstox gets $25 million from Tiger Global". The Economic Times. Retrieved January 4, 2021.
  5. 5.0 5.1 5.2 5.3 Oberoi, Rahul (October 19, 2020). "What made Upstox India's second largest stockbroker after Zerodha". The Economic Times. Retrieved January 4, 2021.
  6. 6.0 6.1 "Broking firm RKSV renamed as Upstox". Business Line. October 16, 2018. Retrieved January 4, 2021.
  7. Tripathi, Yash (April 24, 2021). "Upstox Vs Zerodha: Brokerage, Charges, And More Compared; Which One's Better?". Republic News. Retrieved May 1, 2021.
  8. 8.0 8.1 8.2 8.3 8.4 8.5 Mali, Krishna (September 30, 2020). "Interview: Upstox co-founder Shrini Viswanath says, "We plan to reach 2 million customers by December 2020"". TechGraph. Retrieved January 23, 2021.
  9. 9.0 9.1 9.2 9.3 Ojha, Sangeeta (January 19, 2021). "Upstox launches digital gold platform: All you need to know". Mint. Retrieved January 23, 2021.
  10. 10.0 10.1 "Upstox Ties up With Tavaga to Offer Investment Advisory Services". Business Standard. May 29, 2019. Retrieved January 4, 2021.
  11. Mampatta, Sachin (September 29, 2019). "Tiger Global picks up 31.1% stake in Tata-backed RKSV Securities". Business Standard. Retrieved January 4, 2021.
  12. KR Srivats (October 11, 2020). "Equity trading rush: Ratan Tata backed digital broker Upstox on high growth path". Business Line. Retrieved January 4, 2021.
  13. "UpstoxDoes Away With Physical Power Of Attorney (PoA) Document With The Launch Of E-DIS Facility". BusinessWorld. July 30, 2018. Retrieved January 4, 2021.

External links[edit]

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