When was Upswing founded?

Upswing was founded in 2021 and raised its 1st funding round within a year of its incorporation.

Where is Upswing located?

Upswing is headquartered in Bengaluru, India. It is registered at 906, RIDDHI TOWER GARDEN, A K VAIDYA MARG OFF FILM CITY ROAD, NR WAGESHWARI MANDIR, , MALAD(E), Mumbai City, MUMBAI, Maharashtra, India, 400097.

Which legal entities is Upswing associated with?

Upswing is associated with Upswing Financial Technologies Private Limited.

How many employees does Upswing have?

As of Aug 31, 2025, the latest employee count at Upswing is 43.

Is Upswing a funded company?

Upswing is a funded company, having raised a total of $8.2M across 2 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Dec 23, 2021.

How much is Upswing worth?

The latest valuation of Upswing is $***** as of Dec 13, 2023.

When was the latest funding round of Upswing?

Upswing's latest funding was a $***** Series A round on Dec 13, 2023, with participation from 3 investors.

What is the annual revenue of Upswing?

Annual revenue of Upswing is ₹13.5Cr as on Mar 31, 2025.

Where does Upswing rank among its competitors?

Upswing ranks 53rd amongst 541 active competitors, of which 159 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was TrueLayer, which secured an undisclosed amount in Feb, 2026.

Who are the top competitors of Upswing?

Upswing's top competitors include Razorpay, Cross River Bank and Tink. Among them, TrueLayer secured the most recent funding round in February, 2026.

Upswing - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Provider of an API platform enabling companies to offer financial products. The platform allows businesses to integrate and launch financial services. It offers customizable and modular architecture designed to simplify integration with financial institutions. The platform manages compliance, enabling partners to focus on customer experience. It provides a scalable and secure environment for offering financial services.

Website: upswing.one
Email ID: *****@upswing.one
Registered Address: 906, RIDDHI TOWER GARDEN, A K VAIDYA MARG OFF FILM CITY ROAD, NR WAGESHWARI MANDIR, , MALAD(E), Mumbai City, MUMBAI, Maharashtra, India, 400097

Key Metrics

Founded Year

2021

Location

Bengaluru, India

Stage

Series A

Total Funding

$8.2M in 2 rounds

Latest Funding Round

Series A, Dec 13, 2023, $*****

Post Money Valuation

$***** as on Dec 13, 2023

Investors

QED Investors & 69 more

Ranked

53^rd among 541 active competitors

Annual Revenue

₹13.5Cr as on Mar 31, 2025

Employee Count

43 as on Aug 31, 2025

Similar Companies

Razorpay & 484 more

View Upswing's full profile

Upswing is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Upswing Financial Technologies Private Limited CIN: U72200MH2021PTC384071 , India, Active	Sep 03, 2021	$1.59M (As on Mar 31, 2025)	43 (As on Aug 31, 2025)

Upswing has raised a total funding of $8.2M over 2 rounds. Its first funding round was on Dec 23, 2021. Its latest funding round was a Series A round on Dec 13, 2023 for $*****. 3 investors participated in its latest round. Upswing has 11 institutional investors and 59 angel investors.

Here is the list of recent funding rounds of Upswing:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Dec 13, 2023	7373896	Series A	4317190	6397381	6161985	2594000
Dec 23, 2021	8193874	Seed	5740817	5593062	QED Investors	Kunal Naresh Shah & 62 more

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View details of Upswing's funding rounds and investors

The founders of Upswing are Nihar Gupta and Anupam Bagchi.

Here are the details of Upswing's key team members:

Nihar Gupta: Co-Founder of Upswing. They serve on the board of 1 company.
Contact Info: 1 email address
Anupam Bagchi: Founder of Upswing. They serve on the board of 1 company.

View details of Upswing's Founder profiles and Board Members

Upswing's employee count trend

Upswing has 43 employees as of Aug 25. The total employee count is 30.0% more than what it was in Aug 24. Here is Upswing's employee count trend over the years:

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Top competitors of Upswing include Razorpay, Cross River Bank and Tink. Here is the list of Top 10 competitors of Upswing, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Razorpay 2014, Bengaluru (India), Series F	Provider of payment and business banking solutions for enterprises	$742M	Peak XV Partners, GIC & 35 others	86/100
2nd	Cross River Bank 2008, Fort Lee (United States), Series D	Provider of an open banking API solutions for financial institutions	$898M	Shefa Capital, Andreessen Horowitz & 17 others	79/100
3rd	Tink 2012, Stockholm (Sweden), Acquired	Provider of open banking platform offering payment services and data enrichment	$359M	Sunstone, Creades & 21 others	77/100
4th	TrueLayer 2016, London (United Kingdom), Series E	Provider of open banking platform facilitating payments and data solutions	$322M	Northzone, Temasek & 25 others	77/100
5th	Pine Labs 1998, Noida (India), Public	Provider of in-store and online payment, prepaid, and financial solutions	$954M	Peak XV Partners, Actis & 187 others	75/100
6th	Galileo 2000, Sandy (United States), Acquired	Provider of cloud-based platform for financial technology and digital banking	$85M	Mercato Partners, Accel & 3 others	74/100
7th	M2P Fintech 2014, Chennai (India), Series D	Provider of APIs enabling banking, lending, and payment financial services	$188M	8i Ventures, Beenext & 62 others	74/100
8th	Dock 1997, Sao Paulo (Brazil), Acquired	Developer of open banking API solutions	$280M	Viking Global Investors, SLW & 7 others	72/100
9th	Solaris 2016, Berlin (Germany), Acquired	Provider of banking-as-a-service platform offering digital banking and payment solutions	$736M	FinLeap, Yabeo & 24 others	72/100
10th	Bud 2015, London (United Kingdom), Series B	Developer of open banking API and financial data analysis for businesses	$103M	Goldman Sachs, HSBC & 41 others	71/100
53rd	Upswing 2021, Bengaluru (India), Series A	Provider of an API platform enabling companies to offer financial products	$8.2M	Titan Capital, Quona & 68 others	59/100

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Founders (largest shareholder) own 55.24%, Funds own 29.87%, Angels own 2.80% and ESOP Pool own 12.13%. The net worth of Upswing's founders is INR 158Cr as of Dec 13, 2023.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	55.24%	158Cr	1687580	9024777	1146458	5161799
Anupam Bagchi	4006485	2702468	6925745	2780251	3546637	5141842
Nihar Gupta	8397466	4873353	6594226	9149149	3570901	4003099
Fund	29.87%	85.7Cr	5256295	7784819	8937017	5231169
QED Investors	9868304	1022565	6298230	4074280	7498991	9267117
Quona	5968450	9345322	2731926	9292985	9376529	2726723
Angel	2.80%	7.92Cr	36	89	34	80
ESOP Pool	12.13%	34.8Cr	6228784	9367843	6567610	3990394
Total	100.00%	287Cr	8251697	9821385	8929647	8727797