Upstox has raised closed to $25 Mn in its ongoing Series C round from US-hedge fund Tiger Global
The startup is likely to hit the $3 Bn valuation and more once the Series C round is closed
Upstox closely competes against bootstrapped turned unicorn Zerodha and Sequoia-backed Groww
Digital stockbroking platform Upstox may soon join its peers Zerodha and Groww in the unicorn club as it is likely to hit the $3 Bn in valuation with the ongoing funding round. The RKSV Securities operated Upstox has already picked up INR 184 Cr or close to $25 Mn from its existing investor Tiger Global.
As per the regulatory filings accessed by Inc42, Upstox is allotting 18,761 Series C compulsory convertible preference shares at an issue price of INR 98,608 to US-based hedge fund Tiger Global.