Total amount raised
$55 Million
Latest funding date
1/1/2022
Location
Scripbox has successfully raised funds through seven rounds, with the latest being a Series D round led by Accel. The platform is a digital wealth manager, offering a range of financial services including mutual fund investments and financial planning.
Keep reading to explore the intricacies of Scripbox's fundraising journey and the investors backing this innovative platform.
What Is Scripbox?
Scripbox, founded in 2012, is a digital wealth management company based in Bangalore, Karnataka, India. The company operates in the financial services and fintech industries, specializing in mutual fund investments and wealth management solutions.
With an employee count ranging from 101 to 250, Scripbox aims to help families achieve financial freedom through disciplined and scientific investing. The platform serves over 1 lakh families across 2,500 cities and manages wealth amounting to 20,000 Cr.
How Much Funding Has Scripbox Raised?
- Series A
- Amount Raised: USD 2,500,000
- Date: August 2015
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its digital wealth management services and enhance its technology platform.
- Series B
- Date: June 2016
- Lead Investors: Omidyar Network India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Series C
- Amount Raised: USD 21,000,000
- Date: January 2019
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion activities.
- Series D
- Amount Raised: USD 10,500,000
- Date: October 2021
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To acquire new customers and expand product offerings.
- Series D
- Amount Raised: USD 13,000,000
- Date: January 2022
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster new product verticals and expand the customer base.
- Debt Financing
- Amount Raised: USD 8,000,000
- Date: January 2022
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion activities.
Total Amount Raised: USD 55,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Accel
- Details: Accel is a leading venture capital firm that has been a long-time backer of Scripbox, leading multiple funding rounds including the Series D. Subrata Mitra, a partner at Accel, has expressed continued excitement about Scripbox's prospects.
- Investment Focus Areas: Technology, digitization, early-stage startups.
- Notable Investments: Facebook, Dropbox, Flipkart.
- Omidyar Network India
- Details: Omidyar Network India is an investment firm that focuses on social impact and has previously invested in Scripbox. They aim to support innovative solutions that address critical social issues.
- Investment Focus Areas: Education, financial inclusion, governance.
- Notable Investments: Not publicly disclosed.
- InnoVen Capital
- Details: InnoVen Capital is a venture debt firm that provides debt financing to high-growth startups in Asia. They participated in Scripbox's funding rounds to support its growth and expansion.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Swiggy, Byju's, OYO Rooms.
- Transpose Platform
- Details: Transpose Platform is an investment firm that participated in Scripbox's Series D funding round. They focus on supporting innovative and disruptive companies.
- Investment Focus Areas: Technology, fintech, healthcare.
- Notable Investments: Not publicly disclosed.
- Trifecta Capital
- Details: Trifecta Capital is a venture debt firm that provides financing solutions to high-growth startups. They have been involved in Scripbox's funding to help the company scale its operations.
- Investment Focus Areas: Technology, consumer services, healthcare.
- Notable Investments: BigBasket, UrbanClap, CarDekho.
What's Next for Scripbox?
Scripbox is poised for significant growth, with opportunities to expand its customer base and introduce new financial products like health insurance and retirement solutions. The company aims to leverage its strong partnership strategy with independent financial advisors to enhance its market reach.
Future fundraising efforts are likely as Scripbox continues to scale its operations and diversify its offerings. The company has already attracted substantial investment and may seek additional rounds to support its ambitious growth plans.
However, Scripbox faces challenges such as intense competition from other fintech startups and navigating regulatory landscapes. Maintaining customer trust and seamlessly integrating new products will be crucial for sustained success.
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