Mumbai-based online-brokerage firm RKSV Securities has raised $4 million in a Series A round of funding led by Kalaari Capital, GVK Davix and others, reports PEhub. Vani Kola and Bala Srinivasa from Kalaari will join RKSV’s board. RKSV has a zero commission pricing model providing free trading for investors on the equity segment; it chargers Rs. 20 per order on all other segments. This helps users cut their trading costs. The brokerage portal was founded in 2012 by Ravi Kumar, Raghu Kumar, and Shrinivas Viswanath. It claims to have over Rs 6000 crore in daily turnover through their trading and investing operations in NSE, BSE and MCX. The company also has a mobile app named Upstox that helps simplify investing and trading experience for both professional traders and beginners. It has also built a mobile website app named Upstox Pro, for people preferring to use mobile browsers over an apps. Currently RKSV claims to have over 20,000 nationwide users. Online brokerage is relatively a new sector to traverse into India, the market is generally untouched since not everyone in Indian can afford to indulge in stock market investments, such portals mostly adds value to professional investors and traders. But with 'brokerage-free' portals starting to take a grip in India, that scenario is set to change; governmental and institutional regulators could soon step-in to help beginners to deal with investments and trading in stock markets. Similar players: Bangalore-based Zerodha offers brokerage-free equity investments, retail and institutional broking, and other currency and…
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