Co-founded by Jabalpur-based Ravi Kumar and funded by Ratan Tata and Kalaari Capital, the global online discount brokerage firm Upstox has opened new opportunities for people of Madhya Pradesh to invest in stock markets.
Retail participation in stock markets is one of the lowest from MP- it is estimated that less than 5 per cent of the state’s population participates in equity market activities.
While talking to media persons here on Thursday, Ravi Kumar said Upstox’s ‘zero brokerage’ model rests on prudent use of design and technology to cut costs at every level and transferring this cost benefit to the end customer. Being a tech-heavy, product-centric company, Upstox deploys intelligent technology solutions in areas where it feels are adding up to its own costs or time or of its client, thus ensuring impeccable user experience at a minimal price.
The company has also been able to reduce costs by eliminating all paperwork and not having its own branches.
It operates out of its own office in Mumbai and has satellite offices in most major cities and works with authorised partners in small towns, he added.
