RKSV

Last updated

RKSV
Private
Industry Online Stock Broker
Founder
  • Raghu Kumar
  • Ravi Kumar
  • Shrinivas Viswanath
Headquarters30th Floor, Sunshine Tower, Senapati Bapat Marg, Dadar (W), Mumbai, Maharashtra 400013, ,
ProductsStocks, Options, Futures, Commodities, Currencies, Mutual Funds
Number of employees
300 (June 2019)
Website www.upstox.com

RKSV, known by the brand name Upstox, is an Indian financial services company. It is headquartered in Mumbai, India and holds memberships with the NSE, BSE, MCX, and MCX-SX. [1] [2] [3] [4]

Contents

History

It was created by Ravi Kumar, Raghu Kumar, and Shrinivas Vishwanath in 2009 and opened to the general public in 2011. [5] [6] [7]

RKSV Securities changed the brand name of its trading platform to Upstox in 2016. [8] Upstox has raised Series A funding from many investors such as Kalaari Capital and Ratan Tata. [9]

Upstox raised $25 million in its second round of institutional funding from Tiger Global Management in 2019. [10]

Upstox

Upstox is a trading platform from RKSV. Mearly 98.5% of trade orders are received through its web and mobile platforms. [11] In 2016, the company launched the e-Aadhar account opening service, making the process of trading faster, entirely paperless, and efficient. [12]

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References

  1. "Aiming to replicate US, Europe brokerage fee concept in India". The Hindu Business Line. 10 November 2013. Retrieved 14 November 2014.
  2. "Discount broking not yet, say brokerages". Business Standard. 10 November 2014. Retrieved 17 November 2014.
  3. "Trade the millennial way with India's top broking Apps". The Asian Age. 26 February 2020. Retrieved 23 April 2020.
  4. "Upstox Achieves a Historic First Opens 1 Lakh Demat Accounts in December". The Week. Retrieved 23 April 2020.
  5. "Raghu Kumar: Disrupting Broking With Flat Fee Models". Forbes India. Retrieved 24 April 2020.
  6. "Raghu Kumar Disrupting Broking With a Flat Fee Model". Forbes. 12 February 2014. Retrieved 14 November 2014.
  7. "Boom for discount brokers, gloom at large operators". The Hindu Business Line. 16 November 2013. Retrieved 14 November 2014.
  8. "RKSV renamed as Upstox". BusinessLine. 12 September 2016. Retrieved 12 September 2016.
  9. "RKSV raises a Series A round". RKSV. 28 February 2016. Retrieved 28 February 2016.
  10. Bhakta, Pratik (20 September 2019). "Upstox gets $25 million from Tiger Global". The Economic Times. Retrieved 24 April 2020.
  11. "Not just top 5 cities, now Tier III cities also contributing to retail participation in stock markets". EquityBulls. 31 October 2018. Retrieved 15 May 2020.
  12. "Upstox launches e-Aadhaar account opening service | Chennai News - Times of India". webcache.googleusercontent.com. Retrieved 15 May 2020.