Scripbox raises $21 million in Series D round led by Accel Partners
Angel investors including Alok Ohrie of Dell Technologies, MakeMyTrip's Deep Kalra, Girish Mathrubootham and Shanmugam Krishnasamy of Freshworks, among others, joined the funding round. Scripbox will use the funds to expand its product line-up, build the brand and customer acquisition.
Wealth management platform Scripbox has raised $21 million in series D round led by Accel Partners. The funding round, a combination of debt and equity, saw participation from Transpose Platform, DMI Alternative Investment Fund - The Sparkle Fund, InnoVen Capital, Trifecta Capital, KPB Family Trust, LetsVenture, Kube VC, and YY Capital.
Angel investors including, Alok Ohrie of Dell Technologies, MakeMyTrip's Deep Kalra, Girish Mathrubootham and Shanmugam Krishnasamy of Freshworks among others joined the round.
The company will use the funds to expand its product line-up, build the brand and customer acquisition.
The Omidyar Network and Transpose Platform backed firm has seen its business growing manifold through the pandemic, with assets under management (AUMs) close to Rs 5,000 crore. The company's cumulative transactions have crossed 8.1 million to-date. It has users in 2500-plus cities and towns in India. Scripbox’s proprietary algorithms use data, maths, technology to deliver better customer outcomes.
“Combining technology with human touch, we have built deep trust relationships with our client base, helping them grow their wealth prudently and achieve their financial goals systematically. This investment will accelerate our next phase of growth, further strengthening our market position”, said Atul Shinghal, Founder & CEO, Scripbox.
Over the last year, the digital wealth manager has added Indian and US Equities, fixed deposits, and insurance to its product portfolio. It has also partnered with Stockal for US equity investments.
First Published: Jan 19, 2022 11:30 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP holds meeting in Delhi as polling underway for 5th phase
May 20, 2024 4:21 PM
UP Police arrests man after viral videos shows him voting multiple times
May 20, 2024 2:18 PM