India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#248- Valuation
- ₹23,750 Cr
2023 #169 2022 #142 2021 #171
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About Upstox
Upstox is a Technology company based in Mumbai (India) founded in 2009 by Kavitha Subramanian, Ravi Kumar, and Shrinivas Viswanath. Tech-driven trading platform is offered for low-cost brokerage services. Upstox has raised $219.86 million across 6 funding rounds from investors including BlackSoil, InnoVen Capital and Shikhar Dhawan. The company has 2,152 employees. Upstox was last valued at $2.98 billion in September 2022. Its chief executive, as recorded, is Ravi Kumar. Its website upstox.com draws about 17 million monthly visits. Its Indian entity Upstox Securities Private Limited reported revenue of ₹1,187 Cr. Upstox offers products and services including Upstox App, Mutual Funds Service, and IPO Service. Its focus areas include FinTech, Investment Tech, Online Trading Platforms and Stocks. Its competitors include Groww, Angel One and Kotak Securities; 2 of its 3 listed competitors have raised funding.
Company details
Developer of tech driven trading platform offering low cost brokerage. The platform provides seamless access to equity, commodity, and currency trading with commission-free delivery trades and competitive pricing for active traders. It integrates real-time market data, advanced charting, and efficient order execution. Revenue streams include brokerage fees on non-free trades, margin funding services, and value-added financial products. Designed for beginners and experienced investors alike, the system is engineered for accessibility and cost efficiency in capital markets.
Recognitions & Rankings of Upstox
- Headquarters Mumbai, India
- Employees 2,152
- Founders Kavitha Subramanian, Ravi Kumar, Shrinivas Viswanath
- Stage Unicorn
- SectorsTechnology
- Website category Finance · Investing
- Email••••••••
- Phone•••• ••••
- Website upstox.com
- Social LinkedIn X Facebook Instagram YouTube
- Legal Name Upstox Securities Pvt. Ltd.
- Date of Incorporation 10 Feb, 2021
- Jurisdiction Delhi, India
Operational Areas
Key Metrics
- Annual Revenue₹1,187 Cr
FY 2025 · +13% YoY
- Net Profit₹57.72 Cr
FY 2025 · 5% margin
- EBITDA₹102 Cr
FY 2025 · 9% margin
- Total Equity Funding$219.86M (USD)
in 6 rounds
- InvestorsBlackSoil
& 18 more
- Employee Count2,152
Associated legal entities of Upstox
Upstox is associated with 3 registered companies on The Company Check; the primary company is Upstox Securities Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Upstox Securities Private Limited CIN U65100DL2021PTC376860 | Active | 10 Feb 2021 | Delhi, Delhi | ₹1,187 Cr | 194 | 7 | View details |
| Rksv Commodities India Private Limited CIN U74110DL2012PTC236371 | Active | 23 May 2012 | New Delhi, Delhi | ₹17.0 Cr | 5 | 4 | View details |
| Rksv Securities India Private Limited CIN U74900DL2009PTC189166 | Active | 06 Apr 2009 | New Delhi, Delhi | ₹1,208 Cr | 383 | 6 | View details |
Products & Services of Upstox
Upstox offers a comprehensive portfolio of products and services, including Upstox App, Mutual Funds Service, and IPO Service.
Upstox App
Trading Platform
Mobile app for trading stocks, mutual funds, and IPOs online.
Mutual Funds Service
Investment Tool
Platform for buying and managing mutual fund investments digitally.
IPO Service
Investment Platform
Service for subscribing to and tracking initial public offerings.
Apps and channels of Upstox
Upstox publishes 2 mobile apps with over 10M+ downloads; its YouTube channel Upstox has 5.81K subscribers and 30 videos.
Upstox- Stocks & Demat Account
Developer: Upstox - Stock Market Trading & Demat Account App
View on Google Play
Upstox
Open channelVideos from Upstox
The most watched videos on Upstox's YouTube channel, Upstox (5.81K subscribers). Click a video to play it here.
Star Air vs IndiGo: The Next Big Aviation Rivalry in India? | Markets Today #80 | Upstox
HAL vs Tata vs Adani: Who Will Build India’s $2B Stealth Jet? | Markets Today #83 | Upstox
Is Saudi About to Break the Oil Market? | Markets Today #82 | Upstox
NIFTY Approaching 200 EMA: Is the Breakdown Coming? | Upstox
More on Upstox.
Funding Insights of Upstox
Upstox has successfully raised a total of $219.86M across 6 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $219.86M
- Total Rounds 6
- First Round $4M
(Jan 2016)
- Investors Count 19
All 6 funding rounds of Upstox with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2022 | Series C | – | – | ||
| Aug 2022 | Debt – Conventional | – | – | ||
| May 2022 | $6.3M | Series C | $3.42B | Xceed, Stride Ventures | |
| Sep 2021 | $184.54M | Series C | $3.49B | Epowerx | |
| Sep 2019 | $25.02M | Series B | $••••• | Tiger Global Management | – |
| Jan 2016 | $4M | Series A | $••••• | Kalaari Capital |
Valuation history
| Date | Valuation | Stage |
|---|---|---|
| May 2022 | $3.42B | •••••••• |
| Sep 2021 | $3.49B | •••••••• |
| Sep 2019 | $••••• | •••••••• |
| Jan 2016 | $••••• | •••••••• |
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Full valuation and stage history of Upstox
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $2.98B (Sep 2022). 19 investors in total: 13 institutional and 6 angel.
Investors in Upstox
Upstox has secured backing from 19 investors, including angel, institutional, and venture fund investors. Prominent investors backing the company include BlackSoil, InnoVen Capital and Shikhar Dhawan.
All
Venture Fund
Institutional
Angel
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture debt is provided to growth-stage companies for business scaling. | strideventures.global | Delhi, India | ||
Venture and private equity investments are managed with global diversification. | tigerglobal.com | New York, United States | ||
Venture debt financing is extended to companies across multiple sectors. | 2008 | innovencapital.com | Mumbai, India | |
Investments in early-stage technology companies are made by Kalaari Capital. | kalaari.com | Bengaluru, India | ||
Multiple sectors are targeted for investment by GVK Davix Technologies. | Hyderabad, India | |||
Venture capital investments are directed by 2M2D across multiple sectors. | 2m2d.no | Oslo, Norway | ||
Investments are managed by G V Sanjay Reddy's family office. | reddy.co.in | Hyderabad, India | ||
Private debt is provided to growth-stage companies by BlackSoil. | 2010 | blacksoil.co.in | Mumbai, India | |
Insurance risk management services are offered by Xceed. | xceedllc.com | Lexington, United States | ||
Offers AI governance, cloud development, talent solutions, and global outsourcing services. | 2002 | intraedge.com | Chandler, United States |
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Investor details for Upstox
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Upstox Securities Private Limited (Upstox)
Upstox Securities Private Limited is the primary company behind Upstox. The boards of the 3 registered companies of Upstox currently have 5 directors; the longest-serving is Ravi Chandran Kumar, appointed in 2009. 18 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ravi Chandran Kumar DIN 02499607 | Director | 06 Apr 2009 | 17 yrs 7 mo | Rksv Securities India Private Limited, Rksv Commodities India Private Limited, Upstox Securities Private Limited |
| Shrinivas Viswanath DIN 02590433 | Director | 06 Apr 2009 | 17 yrs 7 mo | Rksv Securities India Private Limited, Rksv Commodities India Private Limited, Upstox Securities Private Limited |
| Amit Chhotalal Lalan DIN 03098172 | Director | 07 Jun 2010 | 16 yrs 5 mo | Rksv Securities India Private Limited, Rksv Commodities India Private Limited, Upstox Securities Private Limited |
| Puneet Maheshwari DIN 06824179 | Director | 24 Feb 2014 | 12 yrs 8 mo | Rksv Securities India Private Limited, Rksv Commodities India Private Limited, Upstox Securities Private Limited |
| Kavitha Subramanian DIN 08712047 | CEO | 27 Mar 2023 | 3 yrs 7 mo | Rksv Securities India Private Limited, Upstox Securities Private Limited |
People of Upstox
37 people are tracked at Upstox (13 in leadership, 1 in board & advisors, 23 in team); the tracked headcount is 2,152.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder & CEO | Leadership | |
| Co-Founder | Leadership | |
Shrini Viswanath | Co-founder | Leadership |
Aditya Vyas | VP Product | Leadership |
Mike Akeroyd | VP Product | Leadership |
| Director & VP, Product | Leadership | |
Vigneshwaran Mandey Govardhanan | Director Of Engineering | Leadership |
| Director | Leadership | |
Vaibhav Vora | Associate Director | Leadership |
Priyank Kapoor | Associate Director | Leadership |
Orpheus Almeida | Associate Director | Leadership |
Nishant Patil | Associate Director | Leadership |
Chris Halios-Lewis | Non-Executive Director | Board & advisors |
Manasi Nanwani | Product Manager | Team |
Bhavana Talwalkar | mmm | Team |
Ritik Vishvkarma | Sub-broker | Team |
Samit Zade | Senior Product Manager | Team |
Sugam Gandhi | Product Manager-2 | Team |
Nilesh Bhataria | Senior Engineer | Team |
17 more people are available in the full profile.
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Complete people profiles for Upstox
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Financials of Upstox
Figures of Upstox Securities Private Limited, the primary company behind Upstox, for FY 2025. Revenue was ₹1,187 Cr (+13% year on year). Net profit was ₹57.72 Cr (5% margin). EBITDA was ₹102 Cr (9% margin). Revenue has grown at a compounded annual rate of +204% over three years.
- ₹1,187 CrRevenue · FY 2025 · +13% YoY
- ₹57.72 CrNet profit · 5% margin
- ₹102 CrEBITDA · 9% margin
- ₹64.13 CrPaid-up capital
- 194Employees (provident fund records)
- +204%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Upstox Securities Private Limited are on its company page.
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Detailed financial statements for Upstox
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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- Downloads
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Timeline of Upstox
5 dated milestones of Upstox across 13 years, from founding to its latest funding, stage changes and deals.
- Founded Upstox is founded.
- Funding First funding round of $4.0M.
- Milestone Reaches Minicorn status.
- Milestone Reaches Unicorn status.
- Funding Latest funding round, Series C,.
Competitors of Upstox
Upstox has 3 listed competitors in our database, 2 of them funded. They include Groww, Angel One and Kotak Securities.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| groww.in | 2016 | Bengaluru, India | $595.76M | 933 | An online platform for investments and trading services is offered. | |
| angelone.in | 1996 | Mumbai, India | $38.41M | 2,974 | App-based brokerage stock trading platform | |
| kotaksecurities.com | 1994 | Mumbai, India | 154,089 | Online platform for stock trading, mutual funds, and investment tools. |
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Detailed competitors of Upstox
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Verified entity values are shown only after access is granted.
Web traffic of Upstox
The website of Upstox (upstox.com) receives about 17M visits a month and ranks #2,373 among all websites worldwide, #143 in Investing.
- Monthly visits17M
▲ 3.6% vs previous month
- Unique visitors5.4M
per month
- Global rank#2,373
among all websites
- Category rank#143
Finance · Investing
Visitor engagement
- Bounce rate22%
- Pages per visit6.7
- Average visit4 min 50 sec
- DevicesDesktop 26% · Mobile 74%
Similar websites
Websites whose visitors overlap most with Upstox. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| angelone.in | 100% | 23.4M | #1,679 | View details | |
screener.in | screener.in | 98% | #1,968 | – | |
| groww.in | 97% | 60M | #754 | View details | |
| nseindia.com | 97% | 19.9M | #2,783 | View details | |
| cnbctv18.com | 89% | 12.6M | #6,921 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
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All 40 similar websites and full traffic analytics for Upstox
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Top companies in Investment & Financial Technology
2 companies that operate in the same segment as Upstox (Investment & Financial Technology) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
App-based brokerage stock trading platform | 1996 | Mumbai, Maharashtra, India | USD 38.41 M | USD 549.14 M | 3,823 | |
Smart investment portfolios are offered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 121.05 M | USD 635.51 K | 231 |
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Related news about Upstox
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Frequently Asked Questions about Upstox
Upstox was founded in 2009 and raised its 1st funding round 7 years after it was founded.
Upstox is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Ravi Kumar is the CEO of Upstox, as recorded in our data. They have also founded this company.
Upstox is a funded company, having raised a total of $219.86M across 6 funding rounds to date. The company's 1st funding round was a Series A of $4M, raised on Jan 2016.
Upstox has 2,152 employees.
The primary company behind Upstox, Upstox Securities Private Limited, reported revenue of ₹1,187 Cr for FY 2025, up 13% year on year.
Developer of tech driven trading platform offering low cost brokerage. The platform provides seamless access to equity, commodity, and currency trading with commission-free delivery trades and competitive pricing for active traders. It integrates real-time market data, advanced charting, and efficient order execution. Revenue streams include brokerage fees on non-free trades, margin funding services, and value-added financial products. Designed for beginners and experienced investors alike, the system is engineered for accessibility and cost efficiency in capital markets.
Upstox's top competitors include Angel One, Groww and Kotak Securities.
Upstox offers Upstox App, Mutual Funds Service, and IPO Service.
Upstox has 19 investors. Key investors include BlackSoil, InnoVen Capital, Shikhar Dhawan, Larry Fitzgerald, and Kal Somani.
The valuation of Upstox is $2.98B as of Sep 2022.
Upstox is associated with 3 legal entities: Upstox Securities Private Limited, Rksv Securities India Private Limited, Rksv Commodities India Private Limited.