What Upsurge Investment & Finance does

Upsurge Investment & Finance Limited is a publicly listed Indian non-banking financial company (NBFC) headquartered in Mumbai and traded on the Bombay Stock Exchange under ticker UPSURGE. The firm was founded in 1994 and its core business is providing gold loans — secured lending against gold collateral, a traditional asset-based lending product in the Indian retail finance market.

The company operates at a very small scale, with only 1–10 employees and standalone net sales of Rs 8.99 crore reported for the December 2025 period — a 49.19% year-over-year decline. No product portfolio breakdown, pricing model, digital channels, branch network, or technology stack is disclosed in the available source material. Founder and Managing Director Dayakrishna Goyal leads the company.

The revenue mechanics are not disclosed, but as a gold-loan NBFC, the typical model involves earning interest income on collateralized loans, with the gold pledge serving as the primary risk mitigant. There is no evidence of product diversification, digital origination channels, partnership-driven distribution, or institutional funding rounds. The 49% revenue contraction in the latest reporting period, combined with a sub-10-employee headcount, indicates the firm is operating in a maintenance or wind-down posture rather than an active growth phase.

Name

Upsurge Investment & Finance

Legal name

Upsurge Investment & Finance Limited

Website

https://upsurgeinvestment.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

1–10 employees

Short description

Upsurge Investment & Finance Limited is a publicly listed Mumbai-based Indian NBFC founded in 1994 that provides gold-backed loans to retail borrowers, operating at a small scale with 1–10 employees and reporting Rs 8.99 crore in standalone net sales for December 2025.

Ownership category

akta.pro rank

Product category

Gold Loan Services

NAICS

Miscellaneous Financial Investment Activities (523999), All Other Financial Investment Activities (52399)

SIC

Finance Services (6199), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Merchant Cash Advance & Revenue-Based Financing Enablement (FSAGALAH)

Keywords

• Gold loan services
• Secured lending
• Investment services
• NBFC services
• Financial services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Others

Core offering

Upsurge Investment & Finance is a publicly listed Indian financial company headquartered in Mumbai, founded in 1994, that provides gold loans as its primary offering. Operating as an NBFC-style entity with stock symbol UPSURGE on the BSE, the company also engages in investment and finance activities, reporting standalone net sales of Rs 8.99 crore for December 2025.

Product overview

Upsurge Investment & Finance appears to be a financial services company providing investment products and financial services. Based on the available source data, the company reports standalone financial metrics including net sales figures. No detailed product portfolio breakdown, named modules, or platform architecture information is available in the provided sources.

Differentiator

Problem solved

Functional benefit

Products and services

• Gold Loan

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves3 records

Expansion highlights1 record

Emerging players

• Five-Star Business Finance: Listed Indian NBFC focused on secured small-business lending; overlaps in product philosophy and underserved-borrower targeting even if gold is not the primary collateral.
• Capri Global Capital: Mid-sized Indian NBFC expanding into MSME and gold-backed lending; comparable as a sub-scale, publicly listed peer challenging larger gold loan incumbents.
• Muthoot Microfin: Subsidiary of Muthoot Group with a focus on microfinance that also touches gold-backed lending in rural India; an adjacent but related competitor for the same end borrower.

Direct peers

• Muthoot Finance: India's largest gold loan NBFC with thousands of branches; the dominant direct competitor in the same product category and customer base that Upsurge targets.
• MAS Financial Services: Listed Indian NBFC serving MSMEs and retail borrowers with similar secured-lending products; comparable in size and target customer profile to Upsurge.
• IIFL Finance: Diversified Indian NBFC with a significant gold loan book; competes head-to-head with Upsurge in gold loans while offering a broader product suite.
• Cholamandalam Investment and Finance: Large Indian NBFC with vehicle finance as the mainstay but also a growing gold loan business; comparable regulatory and operating model.
• Manappuram Finance: Major listed Indian NBFC with gold loans as a core business alongside microfinance and vehicle finance; directly comparable product mix and customer segment.

Broad incumbents

• Bajaj Finance: India's largest retail NBFC with a deep secured-lending franchise; represents the scale benchmark that smaller players like Upsurge must compete against for capital and customers.

Regional players

• Asirvad Micro Finance: India-focused microfinance NBFC that serves a similar lower-income, asset-constrained borrower base; an adjacent peer for the same demand pool.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights4 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Upsurge Investment & Finance