Upstox Empowers a New Wave of Investors in Tamil Nadu, Surpassing 60% First-Time Users

• Upstox has experienced 19% growth in the Tamil Nadu market over the past year, compared to a national growth rate of 14.5%
• The percentage of professionals holding accounts with Upstox is over 12%, which is more than double the national average of 5.6%

Chennai, June 19th, 2023: Upstox (also known as RKSV Securities India Pvt Ltd), one of India’s leading investment platforms, has announced revamped features on its app that will simplify investing for Indian investors. By reimagining the investor experience, Upstox seeks to make the investment process seamless, intuitive, and engaging.

Shrini Viswanath, Co-founder, Upstox 

Upstox recently reached a significant milestone by serving over 1 crore customers. Its customer base is diverse, encompassing private employees, students, business owners, professionals, and homemakers. Notably, Upstox has experienced consistent growth in the Tamil Nadu market over the past year, with the user base in the state increasing by nearly 19%, and a 14% increase in Chennai city compared to a national growth rate of 14.5%. Out of the total customer base in the state, 62% of the subscribers are first-time investors. Moreover, the largest segment of subscribers in Tamil Nadu comprises of millennials, representing 61.5% of the base, compared to the national average of 49.4%. In the state, the percentage of professionals holding accounts with Upstox is over 12%, which is more than double the national average of 5.6%. In Chennai, professionals make up nearly 16% of the subscriber base, which is three times higher than the national average.

Deriving from the key insight that individuals desire to invest, but feel overwhelmed by the sheer variety of choices available, Upstox has recently made additions to its app. Focusing on user-friendly functionality, intuitive design, and an engaging experience, Upstox aims to revolutionise how investors interact with their portfolios. To achieve this, Upstox has launched two distinct modes within the app: The "Invest mode" caters to long-term investment needs across stocks, mutual funds, and more, providing a simplified investing platform. On the other hand, the "Pro" or "Trade" mode is designed for advanced traders seeking features like fast charts, real-time information, and a reliable and speedy platform for options trading. This makes Upstox the only platform to have made this dual-mode interface available to all its users.

To further simplify the investing process, Upstox has also taken on the mammoth task of evaluating hundreds of mutual fund schemes based on their risk and reward ratio and from that has curated some of the top ones in each category. With this curated list of funds and expert analysis, the brand seeks to provide users with the best in-app experience for investments in mutual funds. The brand is also offering information and research, enabling an investor to make well-informed decisions. 

Shrini Viswanath, Co-founder, Upstox said, “Our efforts in creating awareness about financial investment is being well received across the country, and I am grateful for that. We are positive that our core vision of facilitating a culture of diverse financial investing, will help us reach newer horizons, and make us the partner of choice for our customers, both present and future. We understand our customers’ needs and are committed to providing them with an intuitive and industry-best investing and trading experience. We firmly believe in the transformative power of financial empowerment and strive to make a lasting impact on the lives of all our users through our platform.”

Upstox's vision is to make investing simple, affordable and accessible to everyone. The intention is to transform the way customers invest, making it intuitive and hassle-free. The company's diverse customer base highlights its efforts to foster an investing culture across India by offering an easy-to-use, equitable and affordable platform.

Upstox is also providing users with practical guidance they need all through their investment journey. As part of this endeavour, Upstox is conducting online and offline learning sessions on various topics such as Mutual Funds, Technical Analysis, Options Trading, and more. Through this holistic approach, Upstox aims to empower individuals to learn, make informed decisions, invest, and trade, all within their platform, thereby providing a comprehensive and all-encompassing experience for investors.

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