Scripbox

Scripbox.com India Private Limited is a digital wealth management service. It was founded in Bengaluru, India in 2012 [1] and is considered to be evolving the robo-advisory landscape in India.[2]

Scripbox.com
IndustryFinancial Services
FoundedBengaluru, India (2012)
Headquarters
Bengaluru, Karnataka
,
India
Key people
Atul Shinghal (CEO & Founder), Sanjiv Singhal (Founder & COO)
Ashok Kumar E R (Co-Founder)
ServicesMutual funds Advisory
AUM₹1500 crores
Websitewww.scripbox.com

Scripbox is registered with the Association of Mutual Funds in India as a Corporate Distributor of Mutual Funds.

History

Scripbox was founded by Atul Shinghal and Sanjiv Singhal along with WS Ravishankar in Bengaluru, India in 2012. Scripbox is the name of the firm as well as the wealth management platform. The company has evolved to become a frontline player in the wealth management space, with a presence across 2440+ cities in India.[3]

In August 2019, Scripbox acquired Upwardly, a digital investment and advisory platform with a focus on mutual funds. During the time of the merger, Upwardly had created assets under management (AUM) of Rs. 250 crore.[4][5]

In July 2020, the company announced its foray into the international market for non-residential Indians (NRIs) specifically in the United Arab Emirates and Singapore.[6][7]

In December 2020, Scripbox announced its strategic investment in Mitraz Financial, a SEBI registered investment advisor that had been providing personalised financial advisory services to high net worth individuals (HNIs) and ultra high net worth individuals (UHNIs). Through this acquisition, Scripbox will be able to offer a full-stack wealth management solution powered by tech, data and science to customers. [8][9]

Business

Scripbox is a full-stack wealth management service that uses technology and digital-led solutions to simplify wealth management for its users. [10][11]

Scripbox uses proprietary algorithms to identify mutual fund plans for its customers. The AI-based algorithms ranks and picks funds that have consistently outperformed the relevant benchmark to determine ideal asset allocation for its users.[12][13]

Mutual Funds

The Scripbox algorithm creates a basket of nine mutual funds, depending on the investors’ goals and objectives. Customers can keep a check on their portfolio from their mobile or computer.

The current basket of mutual funds is listed below:

Equity (Long-Term)Debt (Short-Term)Tax-SavingEmergency Fund

1) Mirae Asset Large Cap Fund (G) 2) Axis Bluechip Fund (G) 3) Kotak Standard Multicap Fund (G) 4) Invesco India Growth Opportunities Fund (G)

1) Tata Liquid Fund (G) 2) Kotak Savings Fund (G) 3) ICICI Prudential Corporate Bond Fund - Regular (G)

1) Mirae Asset Tax Saver Fund (G) 2) Motilal Oswal Long Term Equity Fund (G)

1) Axis Liquid Fund (G) 2) Tata Liquid Fund (G)

[14]

Financials

Scripbox raised ₹100 crores in funding from Accel Partners, Omidyar Network, and multiple angel investors.[15][16] Scripbox raised ₹151 crore from existing investors in Series C round.[17][18]

Awards
  • Red Herring Asia 2016 ranked Scripbox amongst the year's most promising 100 private technology ventures in Asia.[19]
  • The winner in Fintech category for FE-EY Best Banks Survey 2016-17
  • Ranked 2nd Most Influential Financial Services Brand on LinkedIn in 2015. [20]
  • Selected to be part of Fintech 20 by FinTech City
  • Fintech Global has included Scripbox in WealthTech100, a list of the world's 100 most innovative companies[21]

References
  1. "Not many listed companies in the world offer free lunch". The Economic Times.
  2. "The Evolving Robo-Advisory Landscape In India". BloombergQuint.
  3. "ESOP Management at Scripbox". MyStartupEquity.
  4. "Online mutual funds distribution startup Scripbox acquires Upwardly". The Economic Times.
  5. "Want to create wealth for yourself! Here is a piece of useful news for you". Zee Business.
  6. "Investment app Scripbox to debut in UAE and Singapore". Mint.
  7. "It's time for tech-led financial service to expand to other markets: Scripbox CEO Atul Shinghal". The Economic Times.
  8. "Wealth management platform Scripbox makes strategic investment in Mitraz Financial". The Economic Times.
  9. "Scripbox acquires investment advisor Mitraz Financial". The Hindu Business Line.
  10. "After initial withdrawals in March, MF industry has been steady: Scripbox". The Economic Times.
  11. "Using a robo-advisory: when algorithms help with your investments". The Hindu.
  12. "What Are The Most Interesting Fintech Business Models In India?". Inc42 Media.
  13. "ESOP Management at Scripbox". MyStartupEquity Blog.
  14. https://scripbox.com/help/what-is-your-current-short-list-of-funds
  15. "Scripbox Raises Undisclosed Investment In Funding Led By Omidyar Network". Forbes India.
  16. "Emerging FinTech start-ups from India that are making a mark". Livemint.
  17. "Scripbox raises Rs 151 crore in Series-C Round". The Economic Times.
  18. "Scripbox Raises $21.4 Mn Series C Funding Led By Accel Partners". Inc42 Media.
  19. https://www.redherring.com/events/red-herring-asia/2016-top100/
  20. https://business.linkedin.com/marketing-solutions/blog/marketing-for-financial-services/2016/introducing-the-content-marketing-50--financial-services-edition
  21. "WealthTech 100 – The world's most innovative WealthTech companies that every leader in the wealth and asset management industries needs to know about". Retrieved 2019-04-11.
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