Upstox (also known as RKSV Securities), one of India’s largest online investment platforms, today announced that it has onboarded 1 crore customers. Upstox reached its first milestone of 10 lakh customers in June 2020 and has grown 10x in two years.
Upstox has achieved this milestone by providing a delightful investing experience for all customers, regardless of whether they are new investors or experienced traders. Simplifying wealth by providing access, information and an intuitive product experience have been at the heart of Upstox’s meteoric rise.
Commenting on this milestone, Ravi Kumar, Co-Founder & CEO, Upstox said, “Our mission is to magically simplify investing for every Indian. And with this milestone of 1 crore customers, we are just getting started in our mission. People from across the country have appreciated our efforts to increase access to investing and we are grateful for that. We are excited about the path in front of us, and the potential to make investing a habit for every Indian.”
The investing platform has seen tremendous broad-based growth in the last three years – over 50% of the customers are millennials, nearly 70% are first-time investors, and more than 85% belong to Tier 2 and Tier 3 cities. And in the next 4-5 years, the Upstox team aims to onboard 20-30 crore (200 million to 300 million) customers.
This growth will be made possible by offering a seamless, intuitive and hassle-free investing experience, backed by cutting-edge technology. Upstox already delivers the highest stability and is one of the highest ranked apps in the industry. The platform is confident that continuing the focus on cutting-edge features made customer-friendly through intuitive design, will make it the investing partner of choice for everyone.