Upstox doubles user base in six months to 10 mn on strong millennial push

Online stock and mutual fund investment platform Upstox's user base has crossed 10 million, doubling from five million about six months ago.

Founded in 2009, Upstox had around one million customers in June 2020 and has grown 10x in less than two years, the company said.

The investing platform has seen tremendous broad-based growth in the last three years. With over 50 per cent of the customers being millennials, nearly 70 per cent are first-time investors, and more than 85 per cent belong to Tier 2 and Tier 3 cities.

In an interview with Business Standard, Ravi Kumar, CEO, Upstox said, "By the