Total amount raised
$55 Millions
Latest funding date
Location
Scripbox has successfully raised funds through multiple rounds, with the latest being a Series D round on January 18, 2022. The platform offers a comprehensive suite of financial services, including mutual fund investments, personalized financial planning, and tax filing services.
Keep reading to explore the intricacies of Scripbox's fundraising journey and the investors backing this innovative platform.
What Is Scripbox?
Scripbox, founded in January 2012, is a digital wealth management platform based in Bangalore, Karnataka, India. The company was established by Atul Shinghal, Manish Dimri, Prateek Mehta, Sanjiv Singhal, and Varun Girilal. With a team of 101-250 employees, Scripbox offers a range of services including mutual fund investments, personalized financial planning, and tax filing services.
How Much Funding Has Scripbox Raised?
- Series A
- Amount Raised: $2.5M
- Date: August 2015
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and reach more customers.
- Series B
- Amount Raised: Not publicly disclosed
- Date: June 2016
- Lead Investors: Omidyar Network India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series C
- Amount Raised: $21M
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the customer base.
- Series D
- Amount Raised: $10.5M
- Date: October 2021
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To introduce new products and expand internationally.
- Series B
- Amount Raised: Not publicly disclosed
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance user experience.
- Series D
- Amount Raised: $13M
- Date: January 2022
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To acquire new customers and strengthen partnerships with financial advisors.
- Debt Financing
- Amount Raised: $8M
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To finance the onboarding of independent financial advisors and support operational breakeven.
Total Amount Raised: $55M. Current Valuation: Not publicly disclosed.
Key Investors
- Accel
- Details: Accel is a global venture capital firm that has been investing in early-stage and growth-stage companies since 1983. They have a strong presence in the technology sector and have backed numerous successful startups.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, Dropbox, Slack.
- Omidyar Network India
- Details: Omidyar Network India is a philanthropic investment firm that supports innovative organizations aiming to create social impact. They focus on empowering individuals and fostering economic advancement.
- Investment Focus Areas: Social impact, technology, financial inclusion.
- Notable Investments: Quikr, Dailyhunt, 1mg.
- InnoVen Capital
- Details: InnoVen Capital is a venture debt firm providing debt capital to high-growth, venture-backed startups across India, China, and Southeast Asia. They aim to support companies through various stages of growth.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Swiggy, Byju's, OYO.
- Trifecta Capital
- Details: Trifecta Capital is a venture debt firm that provides structured debt financing to startups. They focus on supporting companies with strong growth potential and robust business models.
- Investment Focus Areas: Technology, consumer services, e-commerce.
- Notable Investments: BigBasket, UrbanClap, CarDekho.
- LetsVenture
- Details: LetsVenture is a platform that connects startups with investors, facilitating funding and growth opportunities. They have a strong network of angel investors and venture capitalists.
- Investment Focus Areas: Early-stage startups, technology, consumer services.
- Notable Investments: Dunzo, MyGate, Trell.
What's Next for Scripbox?
With a focus on acquiring new customers and expanding product offerings, Scripbox is poised to capitalize on the growing interest in digital wealth management. The company plans to introduce new products like health insurance and retirement solutions, while also targeting international markets, particularly NRIs in the UAE and Singapore. These opportunities could significantly increase their assets under management and customer base.
Future fundraising efforts are likely as Scripbox continues to scale. The company may seek additional rounds of funding to support its ambitious growth plans and product development. However, challenges such as competition from other fintech startups and regulatory changes could pose hurdles. Maintaining customer trust and achieving operational breakeven will be crucial for sustained success.
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