How India's Second-Largest Discount Broker Was Built. Founded by Ravi Kumar & Raghu Kumar in 2010. Industry: FinTech / Stock Trading. Key Metrics: $3B Valuation | 10M+ Customers.
Upstox combined the discount brokerage model with mobile-first UX and high-profile investor credibility — Ratan Tata and Tiger Global backing — to build India's second-largest retail brokerage. Strategy: Zerodha-challenger positioning, celebrity investor endorsement, simplified mobile-first investing experience, and competitive zero-brokerage model.