The Upside Funding, a Hong Kong-registered prop firm, rolled out a redesigned brand and website to mark almost 12 months since launch, trying to position itself against a backdrop of sector turbulence that saw dozens of competitors exit the market in the last two years.The firm, launched in early 2025 by Charles Finkelstein, former Country Treasurer at Citibank Australia, and his team of ex-Citi managing directors, operates in a prop trading sector that continues to see significant attrition. The refresh comes as the company transitions from its startup phase into what it calls an "established presence" in the challenge-based trading space."We entered this market because we saw a fundamental gap between what retail traders were being offered and what we knew was possible from our years at institutional level," Finkelstein said in a statement.Institutional Background in Retail MarketThe company's founders bring backgrounds from Citibank's trading and treasury operations, where Finkelstein worked for over 30 years across Hong Kong, Australia, and London. He served more than half that time as managing director and head of G10 Risk Treasury for the Asia-Pacific region before departing in 2023.According to the press release, the Upside Funding uses proprietary hedging infrastructure and risk protocols that mirror systems typically deployed at investment banks, according to the company. The company claims that approach distinguishes it from competitors founded by retail traders or marketing professionals, though the firm still operates challenge-based evaluations in simulated trading environments like most prop trading companies.The firm offers traders capital allocation across multiple account sizes and asset classes, with profit splits reaching 90%. Its most notable feature remains the potential for top performers to qualify for salaried positions paying up to $350,000 annually, a structure uncommon in the primarily commission-based sector.Sector Consolidation ContinuesThe rebrand arrives during continued consolidation across prop trading, with estimates suggesting 80 to 100 firms disappeared from the market in 2024 alone. Recent weeks saw FundingTicks begin winding down operations after cutting profit shares and imposing new trading restrictions.The sector has shown geographic variations in profitability, with South Asian markets allowing firms to break even in roughly one month compared to six months in the United States. Industry trackers like Prop Firm Match recorded approximately $325 million in total payouts to traders in 2025, with FundedNext leading at nearly $108 million. This article was written by Damian Chmiel at www.financemagnates.com.

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