Upstox, one of the fastest-growing investment platforms in India, today announced that it will now allow investors to invest in initial public offerings (IPOs) and open a Demat Account through WhatsApp.
Upstox provides end-to-end support for IPO applications via WhatsApp, empowering customers by easing the process of account opening. The company had grown its customer base by 1 million in October 2021 alone, taking the total customer base to over 7 million. The company aims to increase its customer base to 10 million by the end of FY2022.
Upstox launched its new service on WhatsApp after launching a brand-new platform with user-friendly features and an intuitive design that makes investments effortless. Backed by extensive research, the new Upstox platform equips investors with an easy-to-use interface, handpicked market insights, and a wide range of investment choices.
The key highlight of the latest feature is that all investors, whether they are registered with Upstox or not, can now subscribe to any IPO, without moving out of the WhatsApp chat window at any point during the application journey. With this integration, Upstox aims to achieve a five-fold growth in IPO applications.
The process of opening an account has also been made quick, easy, and accessible via WhatsApp, which will now only take a few minutes. Tabs such as ‘Upstox Resources’ and ‘Get Support’ will provide customers with direct access to FAQs and all the necessary information about Upstox in real-time with just a click.
Mr. Shrini Viswanath, Upstox’s Co-Founder said, “Today consumers want on-the-go access to investments and we at Upstox strive to offer superior technology-enabled investment solutions to customers. With an aim to further strengthen our customer base in deep India and encourage more millennials to invest, we have integrated with WhatsApp, which is being widely used by users across the country.
This integration would serve as an enabler for novice investors and make investing an easy, accessible and effortless experience. With a huge uptick in IPOs and investors rushing to invest in IPOs, we see this as an opportunity to encourage more investors to open an account and invest through Upstox. We are optimistic that we will close FY2022 with 10 million customers, from the current customer base of over 7 million.”
How to start transacting on Upstox via WhatsApp
The customer needs to connect with Upstox’s verified WhatsApp profile number, 9321261098, to his/her ‘contacts’ on the mobile phone and send <hi> to this number from his/her mobile number
Steps for investing in an IPO with Upstox through WhatsApp
- Say ‘Hi’ to WhatsApp Chat BOT ‘Uva’ on the official Upstox Whatsapp number – 9321261098
- Using WhatsApp Chat BOT ‘Uva’, click on ‘IPO Application’
- Enter the registered mobile number and OTP (One-time password (OTP) generated)
- Click on ‘Apply for IPO’
- Select the IPO which you want to subscribe
Steps for account opening with Upstox through WhatsApp
- Using WhatsApp click on ‘Open an Account’
- Enter mobile number (OTP generated)
- Enter email address (OTP generated)
- Enter Date of Birth
- Enter your PAN details and the bot will direct you to the Upstox page for a few basic formalities and the process is complete!
*Note: No documents will be uploaded over WhatsApp and no documents will be sent as an attachment over the chat.