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Last Updated : Jul 08, 2020 02:10 PM IST | Source: Moneycontrol.com

Upstox adds over 1 million customers, plans to double user base by December

"Upstox's customer base now extends beyond the 1 million mark and this is much more than just a milestone," Ravi Kumar, Co-Founder of Upstox said.

Brokerage firm Upstox, also known as RSKV Securities India, has acquired more than 1 million customers, a figure it hopes to double by the end of calendar 2020.

"Since October 1, 2019, the firm has added more than 6.5 lakh new customers. This growth comes on the back of customers' word of mouth, aggressive market outreach, and the consistent hard work towards making the platform robust and easy for everyone to use," said the brokerage in its statement.

Currently, almost 75 percent of its total customer base is below the age of 35.

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"Upstox's customer base now extends beyond the 1 million mark and this is much more than just a milestone," Ravi Kumar, Co-Founder of Upstox said.

"We will, as always, strive to ensure that we live up to this trust by merging modern technology with customer-prioritized services to offer a platform that caters to every kind of investor and trader. In doing this, we believe we will double our customer base and acquire the next million customers by December 2020," he added.

Upstox, which runs an online trading platform, said it added a large number of digitally-savvy traders from non-metro cities over the last year.

"Over 80 percent of the total customer base acquired by the company are from Tier-2 and Tier-3 cities like Nashik, Jaipur, Guntur, Patna, Kannur, Tiruvallur & Nainital and among others," it added.
First Published on Jul 8, 2020 02:10 pm

tags #Business

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