New Delhi, Jan 19 (PTI) Digital wealth manager Scripbox on Wednesday said it has raised USD 21 million (about Rs 150 crore) in a combination of equity and debt through Series-D funding led by Accel Partners.
The funding round also saw participation from Transpose Platform, DMI Alternative Investment Fund – The Sparkle Fund, InnoVen Capital, Trifecta Capital, KPB Family Trust, LetsVenture, Kube VC, and YY Capital LLC.
The newly raised funds will be used for expanded product roll-outs, brand building and customer acquisition, and the IFA partnership strategy, Scripbox said in a statement.
The company has grown aggressively through the COVID period, and its assets under management (AUM) stand at close to Rs 5,000 crore, with cumulative transactions exceeding 8.1 million to date.
“This investment will accelerate our next phase of growth, further strengthening our market position,” said Atul Shinghal, founder and CEO, Scripbox.
Subrata Mitra, Partner at Accel, said, “We have backed Scripbox since its inception, and continue to be super excited about their prospects. Digitisation of wealth management in India is well on its way, and Scripbox, with a powerful yet simple product, is becoming a de facto leader in the category”. PTI SP BAL BAL
