Upstox Registers 1 Million Customers; Aims to Double by December 2020

MUMBAI:
Upstox (also known as RSKV Securities India Pvt Ltd ), one of India’s leading and fastest-growing brokerage firms, today announced that it has acquired over 1 million customers.

The brokerage firm aims to double the number by December 2020. Since October 1, 2019, the firm has added more than 6.5 lakh new customers. This growth comes on the back of customers’ word of mouth, aggressive market outreach, and the consistent hard work towards making the platform robust and easy for everyone to use.

Upstox has been instrumental in providing a hassle-free and affordable trading experience to all its customers. Over the last year, Upstox has on-boarded a large number of digitally- savvy traders from non-metro cities. Over 80% of the total customer base acquired by the company are from Tier-2 and Tier-3 cities like Nashik, Jaipur, Guntur, Patna, Kannur, Tiruvallur & Nainital and among others. Currently, almost 75% of the total customer base is below the age of 35. Upstox was also appreciated by CDSL for the historic achievement for opening highest number of accounts of customers in December 2019.

Ravi Kumar, Co-Founder of Upstox, said, “Upstox’s customer base now extends beyond the 1 million mark and this is much more than just a milestone. These growing numbers represent the trust and confidence that traders & investors are showing in us. We’re grateful that more than a million traders are a part of Upstox’s journey of becoming one of India’s biggest brokerage firms. We’re working hard to build a product that addresses the needs of every evolving trader with brilliant customer experience. We will, as always, strive to ensure that we live up to this trust by merging modern technology with customer- prioritized services to offer a platform that caters to every kind of investor and trader. In doing this, we believe we will double our customer base and acquire the next million customers by December 2020.”

Upstox is committed to developing and releasing new services and features, to keep up the pace with the ever-evolving customer needs and the changing trading landscape.