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Upwards Fintech Services Private Limited - financial services in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹19.22 Cr
▲ 16% YoY
Net loss · FY 2024
₹14.17 Cr
Net margin -73.7%
EBITDA · FY 2024
-₹8.5 Cr
EBITDA margin -44.2%
Authorised capital
₹10.15 Cr
Registered with MCA
Paid-up capital
₹4.87 Lakh
Issued & subscribed
Open charges
₹4.9 Cr
Satisfied ₹12.5 Cr
Company age
9 yrs
Est. 2017
Employees · EPFO
39
Provident fund records
About Upwards Fintech Services Private Limited
Data last updated:
Upwards Fintech Services Private Limited is a private limited company based in Mumbai, Maharashtra, India, recognised as a startup by DPIIT. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 09 January 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74999MH2017PTC289380. Its GSTIN is 27AACCU0509R1ZZ (Maharashtra).
The company has an authorised share capital of ₹10.15 Cr and a paid-up capital of ₹4.87 Lakh. It is led by directors Abhishek Soni and Nimesh Kumar Verma.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2024, the company reported a revenue of ₹19.22 Cr, a growth of 16% compared to the previous year. For the same year it recorded a net loss of ₹14.17 Cr (net margin -73.7%) and EBITDA of -₹8.5 Cr (EBITDA margin -44.2%). Revenue has grown at a compounded annual rate (CAGR) of 46% over three years and 51% over five years.
The company has about 39 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: Upwards. As per MCA filings, the company has open charges of ₹4.9 Cr and satisfied charges of ₹12.5 Cr on record. Court records list 1 case involving the company, including 1 filed by the company; 1 case is pending. The company has 5 deals on record (2 funding rounds, 1 acquisition, 1 debt financing), with disclosed funding of ₹43.49 Cr; the latest was in February 2023.
Upwards Fintech Services Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-18-0209508). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website upwards.in.
Company details
CIN U74999MH2017PTC289380
Registration Number 289380
Incorporation Date 09 January 2017
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
DPIIT Recognition Recognised Startup
MSME Classification Small
Udyam Registration UDYAM-MH-18-0209508
Recognitions & Rankings of Upwards Fintech Services
MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-MH-18-0209508
Contact details
Upwards Fintech Services Private Limited's registered office is in Mumbai, Maharashtra. Its website is upwards.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address2nd & 3rd Floor Birla Centurion, Pandurang Budhkar Marg Worli, Mumbai, Maharashtra, India – 400030
- IndustryFinancial Services, NBFC
To see the full contact details of Upwards Fintech Services Private Limited, buy the company report.
Comprehensive company report
Upwards Fintech Services Private Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Upwards Fintech Services operates one associated brand: Upwards. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Instant personal loans are provided by Upwards in India. | upwards.in |
Business activity
The main business activity of Upwards Fintech Services is information and communication. In detail, this covers publishing of computer operating systems, system software, application software, games, etc..
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J2 | Publishing of computer operating systems, system software, application software, games, etc. |
To see the full business activity and turnover split of Upwards Fintech Services Private Limited, buy the company report.
Financials of Upwards Fintech Services Private Limited
FY 2024 filings availableUpwards Fintech Services Private Limited reported revenue of ₹19.22 Cr (up 16% YoY) for FY 2024.
Revenue · FY 2024
₹19.22 Cr ▲ 16%
Net loss · FY 2024
₹14.17 Cr margin -73.7%
EBITDA · FY 2024
-₹8.5 Cr margin -44.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 16%
3 years · compounded
▲ 46%
5 years · compounded
▲ 51%
EBITDA CAGR growth
1 year
▼ 139%
3 years · compounded
▼ 144%
5 years · compounded
▼ 37%
Revenue has grown at a compounded annual rate (CAGR) of 51% over five years, including 16% growth in the latest year. EBITDA fell 139% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| EBITDA | -₹8.5 Cr | ||||
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| Net Profit (PAT) | -₹14.17 Cr | ||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| Profitability | |||||
| EBITDA Margin | -44.2% | ||||
| Net Profit Margin | -73.7% | ||||
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To see the full financial statements and ratios of Upwards Fintech Services Private Limited, buy the company report.
Board of directors of Upwards Fintech Services Private Limited
Upwards Fintech Services has 2 directors on record. No former directors are listed.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Abhishek Soni Also directs: Asnv Tech Solutions Private Limited | Director | 09 Jan 2017 | 9 Years 9 Months | Current |
| Nimesh Kumar Verma Also directs: Asnv Tech Solutions Private Limited | Director | 09 Jan 2017 | 9 Years 9 Months | Current |
Auditor
Upwards Fintech Services Private Limited is audited by CMPD AND CO. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| CMPD AND CO. | FY 2023 | 153189W |
Shareholding
The shareholding of Upwards Fintech Services Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Upwards Fintech Services Private Limited, buy the company report.
Charges & borrowings
Open charges
₹4.9 Cr
Satisfied charges
₹12.5 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 11 Nov 2020 | 100415550 | Others | ₹4.9 Cr | Open | |
| 06 Oct 2022 | 100710781 | Others | ₹7.5 Cr | Satisfied | |
| 07 May 2022 | 100581977 | Others | ₹5 Cr | Satisfied |
To see the full charge records of Upwards Fintech Services Private Limited, buy the company report.
Total charge records: 3 View all charges
Deals & funding
Upwards Fintech Services Private Limited has 5 deals on record (2 funding rounds, 1 acquisition, 1 debt financing), with disclosed funding of ₹43.49 Cr; the latest was in February 2023.
Total deals
5
Funding rounds
2
Acquisition
1
Debt financing
1
Secondary share transfer
1
Disclosed funding
₹43.49 Cr
Deals on record (5 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2023 | Acquisition | ₹120 Cr | Buyer: Lendingkart Technologies Private Limited Seller: Mayfield India, India Quotient, Shunwei Capital |
| May 2022 | Debt financing | ₹12.5 Cr | Investors: Np 1 Capital Trust |
| Aug 2018 | Funding round · Series A | ₹27.74 Cr | Investors: Shunwei Capital, Mayfield India, India Quotient |
| Nov 2017 | Funding round · Seed | ₹3.25 Cr | Investors: India Quotient, Mayfield India |
| Oct 2017 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Upwards Fintech Services Private Limited has 1 court case on record: 1 filed by Upwards Fintech Services. All case is pending.
Total cases
1
Filed by the company
1
Pending
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 1 | 0 | 1 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Gujarat | Arbitration matter | Filed by the company against Lendingkart Finance Limited and 1 other | Pending |
To see the full case history of Upwards Fintech Services Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Upwards Fintech Services Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Upwards Fintech Services has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Upwards Capital Private Limited | U65999MH2018PTC305512 |
To see the full group structure of Upwards Fintech Services Private Limited, buy the company report.
Employees & EPFO
Upwards Fintech Services Private Limited has a workforce of 39 employees on its EPFO records as of Apr 01, 2024, across 1 active EPFO establishment.
Employee count
39
Active EPFO establishments
1
Employee growth
-23.53%
GST
Upwards Fintech Services has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCU0509R1ZZ | Maharashtra | Active | 19 Mar 2018 |
To see the full GST registrations and return filing status of Upwards Fintech Services Private Limited, buy the company report.
Recent activity
Upwards Fintech Services Private Limited has 2 board changes on record since 2017: 2 appointments. The latest: Abhishek Soni was appointed as Director on 09 Jan 2017.
Charges
A charge registered on 07 May 2022 via Charge ID 100581977 with Others was fully satisfied on 13 May 2025.
AGM
Upwards Fintech Services Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Charges
A charge registered on 06 Oct 2022 via Charge ID 100710781 with Others was fully satisfied on 22 May 2024.
Filing
Upwards Fintech Services Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Mumbai.
Charges
A charge with Others of Rs. 4.90 Cr registered on 11 Nov 2020 with Charge ID 100415550 was modified on 08 Aug 2023.
Charges
A charge with Others of Rs. 5.00 Cr registered on 07 May 2022 with Charge ID 100581977 was modified on 12 Jan 2023.
Charges
A charge with Others amounted to Rs. 7.50 Cr with Charge ID 100710781 was registered on 06 Oct 2022.
Charges
A charge with Others amounted to Rs. 5.00 Cr with Charge ID 100581977 was registered on 07 May 2022.
Charges
A charge with Others amounted to Rs. 4.90 Cr with Charge ID 100415550 was registered on 11 Nov 2020.
Appointed
Abhishek Soni was appointed as Director.
Appointed
Nimesh Kumar Verma was appointed as Director.
Incorporation
09 Jan 2017
Upwards Fintech Services Private Limited was registered on 09 Jan 2017 with Roc Mumbai & aged 9 years 9 months as per MCA records.
News
Frequently asked questions
Upwards Fintech Services is an active private limited company based in Mumbai, Maharashtra, India. The company works in nbfc, within the financial services industry. It was incorporated on 09 January 2017 (9+ years old) and is registered under CIN U74999MH2017PTC289380.
Upwards Fintech Services has 2 current directors:
- Abhishek Soni - Director
- Nimesh Kumar Verma - Director
The latest financial statements of Upwards Fintech Services on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from FY 2017 are in the company report.
The GSTIN of Upwards Fintech Services is 27AACCU0509R1ZZ, registered in Maharashtra.
The CIN (Corporate Identification Number) of Upwards Fintech Services is U74999MH2017PTC289380. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Upwards Fintech Services has 1 court case on record: 1 filed by the company. 1 is pending.
Upwards Fintech Services was incorporated on 09 January 2017, making it 9+ years old. It is registered with the Registrar of Companies, Mumbai.
Upwards Fintech Services has 5 deals on record (2 funding rounds, 1 acquisition, 1 debt financing), with disclosed funding of ₹43.49 Cr; the latest was in February 2023.
Abhishek Soni was appointed as Director on 09 Jan 2017. Nimesh Kumar Verma was appointed as Director on 09 Jan 2017.
Yes, Upwards Fintech Services is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).