Who is the Owner of Upstox? Meet Ravi Kumar and the Co-Founders Behind India’s Financial Revolution

The Visionaries Behind Upstox’s Success

Have you ever wondered who’s running the show at Upstox, one of India’s fastest-growing investment platforms? I’ve been using Upstox for my investments, and I got curious about the brains behind this fintech powerhouse that’s helping millions of Indians enter the world of investing.

Turns out, Upstox isn’t the vision of just one person but a collective effort of passionate entrepreneurs. Let me introduce you to the main players who transformed a small trading business into one of India’s largest trading platforms trusted by over 1.3 crore Indians.

Ravi Kumar: The Trading Prodigy Who Co-Founded Upstox

Ravi Kumar serves as the Co-Founder of Upstox and is often considered the face of the company His journey into the world of finance began remarkably early – at just 16 years old!

Ravi’s Journey From Teenage Trader to Fintech Leader

Ravi’s passion for trading has a fascinating origin story. During his high school years, he would use his breaks to call home and instruct family members to place stock purchase orders via phone. This early obsession with the markets led him to work briefly at TD Ameritrade’s flagship Thinkorswim trading platform.

After his stint at TD Ameritrade, Ravi, along with his brother Raghu, established an automated proprietary trading desk in Chicago Their venture was impressively successful – they managed to turn a few thousand dollars into millions within just three years.

The 2008 financial crisis marked a turning point for Ravi. Instead of seeing it as a setback he and his brother recognized the tremendous growth potential in India’s financial markets. In 2009 they co-founded what would later become Upstox (then known as RKSV Securities).

Under Ravi’s leadership, Upstox has achieved remarkable growth. He played a crucial role in elevating the company from being the 47th largest brokerage in India in 2017 to becoming the second largest today. At Upstox, Ravi oversees key business decisions and drives corporate strategy.

Ravi has solid academic credentials to complement his business acumen. He graduated from the University of California, Irvine, in 2004 with a degree in computer science.

Ravi talks about his thoughts on India’s future on his LinkedIn page: “India’s moment has come.” The next few decades will see growth that has never been seen before. This belief in India’s economic future is at the heart of Upstox’s goal to make investing easier for everyone in India.

The Other Co-Founders Behind Upstox’s Success

While Ravi Kumar is often the most visible face of Upstox, the company’s success is built on the collective expertise of its founding team:

Shrini Viswanath: The Tech Architect

Shrini Viswanath is another crucial co-founder who shares Ravi’s passion for trading. When he moved back to India, Shrini recognized the immense potential in the trading industry and has been instrumental in building Upstox’s technological foundation.

As a co-founder, Shrini heads strategy, product operations, and technology divisions. His leadership in integrating intuitive design with sophisticated technology has been pivotal in creating an accessible trading application that caters to both novice investors and experienced traders.

Shrini’s professional journey began as a Software Engineer at Cerner Corporation before moving to Morgan Stanley as a Technology Analyst. He also worked with Citibank in Chicago before relocating to India to co-found Upstox. His educational background includes a degree in Computer Science from the University of Illinois in Urbana-Champaign, USA.

Kavitha Subramanian: The Strategic Visionary

Kavitha Subramanian joined the founding team a few years into Upstox’s journey and has been instrumental in supercharging the company’s growth, strategy, finance, and operations.

Kavitha is in charge of growth, strategy, finances, and customer experience at Upstox. In the past, she has worked as a management consultant at McKinsey and as a private equity investor at Leapfrog Investments and Actis Investments. She also learned a lot at SKS Microfinance, where she worked with rural women to help them get access to capital and help their businesses grow.

Kavitha’s impressive academic credentials include B. Tech and M. He has a Tech degree in Electrical Engineering from the Indian Institute of Technology, Bombay, and an MBA from the Wharton School of the University of Pennsylvania in the United States.

Raghu Kumar: The Initial Co-Founder

Though less prominently featured in current company materials, Raghu Kumar (Ravi’s brother) was also part of the initial founding team in 2009. He partnered with Ravi in their successful Chicago-based trading venture before they moved to India to establish what would eventually become Upstox.

The Birth and Evolution of Upstox

The story of Upstox began in 2009 when it was known as RKSV Securities. It started in a small apartment in Delhi, serving a small group of customers and helping them grow their investments in public markets.

From Humble Beginnings to Financial Powerhouse

The company later relocated to Mumbai, where it gained momentum. Thousands of customers joined purely through word of mouth, creating a solid foundation for future growth. The addition of Kavitha Subramanian to the team marked the beginning of Upstox’s exponential scaling.

Upstox has been at the forefront of fintech innovation “even before fintech was a thing,” as they proudly state. The company was the first in the industry to launch unlimited trading plans at a fixed price and pioneered going completely paperless for onboarding back in 2016.

The company’s growth was further accelerated by the Indian government’s push for digital identity via Aadhaar, eKYC, and digital payments – what Upstox calls the “financial superhighway.” This enabled them to expand their proposition from urban India to Bharat, with 70% of their new users coming from Tier 2/3 markets.

Reaching Unicorn Status

In 2021, Upstox took a major leap forward with its partnership with the Indian Premier League (IPL). Having crossed a cumulative number of a million customers in 2020, they added the same number in a single month in 2021! Their nationwide partnership with the world’s largest cricketing league, along with their mass media campaign, made Upstox a household brand across India.

That same year, with another round of funding from Tiger Global (Series C), Upstox’s valuation rose to $3.5 billion, securing its place among Indian unicorn startups.

Upstox Today: A Financial Force Backed by the Best

Today, Upstox stands as one of India’s largest trading platforms, trusted by over 1.3 crore Indians. The company has received numerous accolades, including:

• Highest number of Demat Accounts in a single month by CDSL in October 2021
• Best innovation in wealth management in 2020
• Highest number of accounts in a single month by a broker (in 2019 and 2020)
• Most promising broking house of the year by MCX in 2019

Significant Backing from Major Investors

Upstox’s journey has been supported by significant investments from prestigious backers:

• 2016: Series A funding worth $4 million from Kalaari Capital and investment from Mr. Ratan Tata
• 2019: Series B funding from Tiger Global
• 2021: Series C funding from Tiger Global, which elevated the company’s valuation to $3.5 billion

Upstox’s Mission and Vision

Upstox’s mission is clearly stated: “to help every Indian confidently Up their wealth.” They aim to achieve this by making investing:

1. Accessible: Providing powerful mobile and desktop platforms accessible to all Indians
2. Affordable: Charging just up to ₹20 for equity, F&O, commodity, or currency orders and ₹0 on Mutual Funds and IPOs
3. Simple: Offering dedicated modes for investors and traders to support their individual needs and goals

The company’s broader vision is to create a world where:

• Everyone has financial security without barriers
• Indians invest in India’s growth by investing in her companies
• The wealth gap reduces, and GDP per capita increases
• Everyone is financially literate and empowered
• Wealth becomes a given so that everyone can focus on passion, creativity, growth, contribution & excellence

Why Upstox Stands Out in the Crowded Fintech Space

What makes Upstox different from other investment platforms? I think it’s a combination of factors:

Innovation at the Core

Upstox has consistently pioneered innovations in India’s financial services sector. From being the first to introduce unlimited trading plans to leading the paperless revolution in account opening, the company has repeatedly demonstrated its commitment to pushing boundaries.

Focus on Bharat, Not Just India

While many fintech companies target urban, financially savvy users, Upstox has deliberately expanded its reach to Tier 2 and Tier 3 cities. With 70% of their new users coming from these markets, they’re truly democratizing access to financial markets across the country.

Backed by Visionary Leadership

The diverse expertise of Upstox’s founding team – Ravi’s trading experience, Shrini’s technological acumen, and Kavitha’s strategic vision – creates a well-rounded leadership approach that addresses all aspects of the business.

When we use platforms like Upstox, we often don’t think much about the people who created them. But understanding the passion, vision, and journey of founders like Ravi Kumar, Shrini Viswanath, and Kavitha Subramanian gives us a deeper appreciation for the service they’ve built.

Upstox wasn’t born in a corporate boardroom but from the genuine passion of traders who wanted to make financial markets more accessible to everyone. Starting from a small Delhi apartment in 2009, they’ve built a unicorn company trusted by over 1.3 crore Indians.

Their journey reminds me that great companies are built by people with deep passion for their field, persistence through challenges, and a clear vision for the future. As Ravi Kumar himself believes, “India’s moment has come,” and Upstox is positioning itself to be at the forefront of the country’s financial revolution.

Whether you’re already an Upstox user or considering the platform for your investments, knowing about the visionaries behind it might give you extra confidence in your choice. After all, a company led by people who began trading at 16 and turned thousands into millions probably knows a thing or two about the markets!

Have you used Upstox for your investments? I’d love to hear about your experience with the platform these founders have built!