Broking platform Upstox raises $25-M from Tiger Global, turns unicorn

Mumbai-based online investment platform Upstox has raised USD 25 million (INR 185 crore) from existing investor Tiger Global, as part of a larger round. It has allotted 18,761 Series C preference shares at INR 98,608 apiece to Tiger Global. Upstox has raised the fresh funds at a valuation of USD 3.4 Billion post-money, making it a Unicorn. Upstox allows retail investors to trade in equity, futures, mutual funds and options markets. The company's valuation has grown 28X as compared to the Series B round in September 2019 (at a per share price of INR 3,514) when Tiger Global had invested USD 25 million