Fintech platform Scripbox acquires Wealth Managers
- ByStartupStory | August 8, 2022
Scripbox, a wealth management platform, announced a strategic investment in Pune-based consulting business Wealth Managers (India) Private Limited on Monday. Bharat Phatak and Ajit Khasnis, chartered accountants, formed the firm, which specializes in customized financial services for high and ultra-high net worth individuals, corporations, and charitable trusts. The agreement would allow Scripbox to increase its geographical reach and customer base, while Wealth Managers clients will get access to superior digital solutions, according to the company.
The value of the acquisition has not been disclosed. “The collaboration will enable us to utilize our total wealth management knowledge and jointly create data-driven tailored solutions for our users’ wealth development and diversification.” In addition to boosting our products, it will expand our footprint in important areas and provide a mix of traditional and digital solutions to meet a wide range of client demands,” said Atul Shinghal, Scripbox’s C0-Founder and CEO.
Over the last few years, Scripbox has partnered with both physical and online independent financial managers to broaden its product offering and geographical reach. “We were always pleased with Scripbox’s technological innovations and process-driven advancements,” said Bharat Phatak, Director, and Founder at Wealth Managers. Joining together with them allows us to create long-term investments based on a sensible and responsible approach for a much broader range of investors.”
About Scripbox
Founded in 2012 by Sanjiv Singhal, Ashok Kumar E, Prateek Mehta, Atul Shinghal, and Nilakanta Mallick, Scripbox is a pioneer in the digital financial services space and is recognised for creating simple and elegant user experiences in a complex domain. Scripbox uses proprietary algorithms to deliver a holistic view of investments, as well as personalised recommendations for better outcomes.
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