Online Wealth Management startup Scripbox raises $21 million
- ByTejika Bajaj | January 19, 2022
The online wealth management company Scripbox has recently announced that it has raised $21 million in a funding round led by Accel Partners. The startup had also raised a funding round from Accel Partners in 2019 yielding a capital of INR 151 crore.
The round also witnessed participation from several investors such as Transpose Platform, The Sparkle Fund, InnoVen Capital, Kube VC, KPB Family Trust and YY Capital LLC among others. Various prominent angel investors also participated in this round of funding including Deep Kalra (founder of MakeMyTrip), Shanmugan Krishnasamy (Freshworks) and Alok Ohrie (Dell Technologies).
The startup has stated that it intends to deploy the freshly infused capital to accelerate product development and bolster its new product verticals. The startup also aims to magnify its current user base as well as to partner up with multiple independent financial advisors.
Talking about the recent round of fundraise and the future strategy of the startup, the founder of Scripbox, Atul Shinghal said, “We have been judicious with our fundraising and will utilise the funds to systematically acquire new customers, continue our roll-up and partnership strategy with independent financial advisors as well as focus on growing our technology and engineering efforts. While we continue to leverage our technology stack to help customers with their financial needs, we also provide human touch to a complicated subject like finance through our telephonic chats with our financial advisors.”
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