Kalaari leads $4m round for India’s RKSV Securities

GVK Davix Technologies, an Indian contract research firm, also participated in the round, according to a Livemint report linked to from RKSV's website. The fresh capital will be used to improve the company's technology and develop new products.

Founded in 2012, RKSV provides online investing and trading solutions. These include a mobile app Upstox, which aims to simplify the investing and trading experience for both professional traders and beginners. Professional traders are charged INR200 per order, but for others equities trading is commission free..

The platform records about IND60 billion in daily turnover across India's three stock exchanges.

Raghu Kumar, co-founder of the company, said in a statement that only 1.5% of India's population currently participate in the capital markets due to high brokerage costs, cumbersome trading software, and poor customer support. The start-up aims to solve these issues.

"We believe consumer participation in the India equity markets will expand significantly over the next decade. India's youth population is likely to see equity markets as a viable alternative to fixed deposits, gold and real estate," said Vani Kola, managing director at Kalaari Capital.

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• Topics
• South Asia
• Venture
• Technology
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• Early-stage
• India
• Venture
• TMT
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• Kalaari Capital
• Growth capital