Private Equity Fund Investments

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

Entrackr  

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

Between Jan-16 and Sep-19, Upstox raised over $29-M from Tiger Global, Ratan Tata, Kalaari Capital, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)

Want to receive such news items in your inbox? Click Here to sign up for a trial.

2021 © TSJ Media Pvt Ltd. All rights reserved.