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The Economic Times

Kumar Gaurav

IPO-bound Upstox crosses 2 crore customers, eyes 10 crore users in five years

Upstox IPO Ravi Kumar Ratan Tata Groww Tiger Global

Investment platform Upstox has announced that it has crossed the milestone of 2 crore demat accounts and aims to expand its user base to 10 crore over the next five years. The company said 85% of its customers are from Tier-II and Tier-III cities, while nearly 70% are first-time investors.

The 2-crore customer base, the company said, reflects the expansion of Upstox’s financial ecosystem, which spans equities, derivatives, mutual funds, insurance and other investment products.

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