Ending Soon! Save 33% on All Access

Up the Ante: Ravi Kumar, Cofounder and CEO, Upstox Upstox's primary goal is to help Indians invest right and help them leverage India's growth story through equity markets

By Punita Sabharwal

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Ravi Kumar, Cofounder and CEO, Upstox

The fintech industry in India has undergone a transformative journey in recent years, leveraging technology to reshape the landscape of financial services. With over 9,000 fintech companies, the fintech sector is expected to grow at a CAGR of over 25%, reaching over $400B in value by 2030. The regulatory environment, overseen by organisations like the RBI and SEBI, is also evolving to accommodate fintech growth. Fintech has and will play a pivotal role in promoting financial inclusion by providing services to those previously underserved.

Moreover, the industry will thrive on innovation and collaboration, with fintech companies partnering with traditional financial institutions to offer a diverse range of services, ultimately making financial transactions more accessible and efficient for the general population. Upstox's primary goal is to help Indians invest right and help them leverage India's growth story through equity markets. Upstox has 2 modes that they offer to all users: 1) 'Invest mode', a simplified investing platform that caters to long-term investing needs across Stocks, Mutual Funds, and Gold; and 2) 'Pro' or 'Trade' mode, designed for advanced traders seeking advanced features such as Tick-by- Tick charts, Heatmaps, in-depth OI analysis, Readymade Strategies, and more.

Talking about profitability, Ravi Kumar, Cofounder and CEO, Upstox says, "We have already hit profitability in FY23, and we have an infinite run rate to scale. Upstox's operating revenue (broking revenue) grew 44 percent in FY23 (2022-23) and we crossed the INR 1,000 crore mark." Upstox generated positive net cash of around INR 130 crore in the fourth quarter of FY23. With that, Upstox also concluded the FY23 fiscal year with cash reserves of close to INR 1,000 crore and FY24 is proving to be a very solid year as well.

On regulated environment, he says, "The transition from physical to digital platforms has been instrumental, benefiting both exchanges and investors by enhancing transparency. Regulatory authorities consistently issue guidelines to safeguard investor interests, further solidifying trust in the system. Our compliance with measures such as nominee addition, PAN-Aadhaar, KYC verification go a long way in ensuring that an individual's investments are streamlined."


Year of inception: 2009

No. of employees: 550+

No. of customers: 13 million+

Punita Sabharwal

Entrepreneur Staff

Managing Editor, Entrepreneur India


How to Break Free From the Cycle of Overthinking and Master Your Mind

Discover the true cost of negative thought loops — and practical strategies for nipping rumination in the bud.

Side Hustle

These Brothers Had 'No Income' When They Started a 'Low-Risk, High-Reward' Side Hustle to Chase a Big Dream — Now They've Surpassed $50 Million in Revenue

Sam Lewkowict, co-founder and CEO of men's grooming brand Black Wolf Nation, knows what it takes to harness the power of side gig for success.

Growth Strategies

AI Agents Startup Secures $4M to Revolutionize Customer Onboarding & Retention

Under the leadership of Gaurav Aggarwal and Anuja Verma, Truva AI has created an innovative solution for customer onboarding and retention, leveraging sophisticated AI agents.

Personal Finance

This Investment Bundle Includes a Trading Course and Stock Screener Tool for $150

Approach the stock market with an increased understanding.


5 Secrets to Mastering Your Niche That Will Give Your Competition a Run For Its Money

Follow these steps to unlock a competitive advantage in an underserved segment.