Exclusive: Wealth Management Startup Scripbox Raises $10.5 Mn As Part Of Series D Round

Bengaluru-based Scripbox, an online mutual fund investment startup, has raised $10.5 Mn as part of Series D funding round from its existing investors Accel Partners, NLI Investment Fund, and KPB Family Trust.

As per the regulatory filings accessed by Inc42, the startup is allotting 3,57,224 Series D compulsory convertible preference shares. Of the $10.5 Mn raised, Accel India will be investing $7 Mn. The investment comes almost two years after it had closed its Series C round worth $21.4 Mn led by its existing investor Accel Partners, with participation from Omidyar Network and NLI Investment Fund.

Founded by Ashok Kumar and Sanjiv Singhal in 2012, it simplifies mutual fund investment for salaried professionals. Kumar left the company in 2020 and is now a part-time advisor at GiveIndia, according to his Linkedin profile. Atul Singhal now leads the company as a CEO and founder.

Read more