Scripbox

Scripbox.com India Private Limited is an Indian financial company that provides mutual funds investments via its online platform scripbox.com. Scripbox was founded in Bengaluru in 2012 [1] and is considered to be one of India’s fastest growing asset management groups with 1500 crores in assets under management (AUM). [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
AUMINR 1500 crores
Websitewww.scripbox.com

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

History

The Company 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/tool.

Business

The Scripbox service works on a proprietary algorithm that looks at the performance of mutual funds over several years. The algorithm then shortlists 10 mutual funds from over 8,000 and divides them into four categories - long-term, short-term, tax-saving and emergency fund. These funds are reviewed on a periodic basis to ensure that users stay invested in the best funds.

Scripbox is free of charge for investors. It charges the mutual fund company 0.1-1% of the capital invested through Scripbox platform. Scripbox has a paperless process to facilitate easy transactions between users and the mutual fund companies. [3]

Scripbox emphasizes on making investing in Mutual Funds simple to understand and easy to manage for its investors. “We use language that explains and associates financial concepts to daily lives… So, Equity Linked Savings Scheme (ELSS) can be better understood as tax-saving funds. Similarly, debt funds can be better understood as short-term money” says founder and COO Sanjiv Singhal. [4]

Mutual Funds

Scripbox has an algorithm that creates a basket of ten mutual funds. The firm claims to make mutual fund investment simple and jargon-free for investors with no financial background. The customer 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)

[5]

Financials

Scripbox raised 100 crores in funding from Accel Partners, Omidyar Network, and multiple angel investors.[3] Accel invested in series A and B funding rounds, while Omidyar only invested in series B funding. [6] Scripbox raised rs 151 crore from existing investors in Series C round. [7]

Awards
  • Red Herring Asia 2016 ranked Scripbox amongst the year's most promising 100 private technology ventures in Asia.[8]
  • The winner in Fintech category for FE-EY Best Banks Survey 2016-17
  • Ranked 2nd Most Influential Financial Services Brand on LinkedIn in 2015. [9]
  • 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[10]
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References
  1. Pillai, Shalina (8 Oct 2017). "'Not many listed companies in the world offer free lunch'". Economic Times.
  2. Mukherjee, Jui (19 Oct 2018). "Wealth management apps: Click to save, tap to invest". Fortune India.
  3. Singh, Devika (25 Mar 2018). "Scripbox: Making Money Grow". Business Today.
  4. Kakra, Manik (19 Feb 2018). "Using a robo-advisory: when algorithms help with your investments". The Hindu.
  5. https://scripbox.com/help/what-is-your-current-short-list-of-funds
  6. Arakali, Harichandan (20 Jun 2016). "Scripbox raises undisclosed investment in funding led by Omidyar Network". Forbes India.
  7. Bhakta, Pratik (2019-01-12). "Scripbox raises Rs 151 crore in Series-C Round". The Economic Times. Retrieved 2019-04-11.
  8. https://www.redherring.com/events/red-herring-asia/2016-top100/
  9. https://business.linkedin.com/marketing-solutions/blog/marketing-for-financial-services/2016/introducing-the-content-marketing-50--financial-services-edition
  10. "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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