Data and mobile revolution with benefits of paperless transactions boost Upstox's business in Tamil Nadu

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Chennai, May 15, 2018
Upstox (formerly RKSV Securities), the new-age online discount brokerage firm funded by Mr. Ratan Tata, Kalaari Capital and GVK Davix, has seen its business from the state of Tamil Nadu and its capital Chennai grow exponentially over the last year. Upstox is currently India's fastest growing discount brokerage firm, co-founded by Ravi Kumar and Chennai-boy Shrini Viswanath.
For Mumbai-based Upstox, Tamil Nadu has emerged as its third-biggest market with the average number of orders from the state doubling over the past one year. The customer base, both from the state and Chennai, have tripled in the period.
"It has been our commitment to create a business model that makes stock market investing and trading easily accessible to everyone across India. The benefits of pan-India adaptability and wide affordability of the Upstox platform have helped our brokerage firm to scale such heights, even in states like Tamil Nadu that are far away from our home base and the stock trading hub of the country," says Ravi Kumar, Co-Founder and Chief Executive Officer (CEO) of Uptsox.
Upstox facilitates completely online, Aadhaar-based KYC process and paperless transactions, thus cutting out the complexities and costs of stock market participation for its customers. Besides, the fact that Tamil Nadu has one of the highest broadband and mobile penetration in the country is also why more and more people in the state are accessing stock markets through digital routes.
"I share the same zeal for technology as people in my home state and mingling our knowledge about technology with our global experience of financial markets, we have created a completely digital and high-tech platform that combines the best of finance and technology with an aim to increase capital market participation across the country." says Mr. Shrini Viswanath, Co-Founder and Chief Technology Officer (CTO) of Upstox.

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