Founding Origin

Scripbox Advisors was founded in 2012 by two co-founders, Sanjiv Singhal and Atul Shinghal , who graduated from the Indian Institute of Technology. They wanted to build an online mutual fund investment platform that allows users to invest in a suitable time frame and recommend the best mutual funds to users through artificial intelligence-based robot investment advisors. Users can choose to invest in stocks, tax-saving equity-linked savings plans ( ELSS ), bonds, and liquid mutual funds through systematic investment plans ( SIPs ) , or choose one-time investment products.

Basic Introduction

Scripbox uses a proprietary algorithm to look at the performance of mutual funds over a period of several years. The algorithm then shortlists candidates from over 8,000 mutual funds and categorizes them into four categories - long -term, short-term, tax-saving and emergency funds. These funds are regularly reviewed to ensure that users are investing in the best funds.

Scripbox is free for investors. It charges mutual fund companies 0.1-1 % of the capital invested through the Scripbox platform . Scripbox has a paperless process that facilitates transactions between users and mutual fund companies.

Financing

In August 2015 , it received US$ 2.5 million in financing from Accel .

In June 2016 , it received an unknown amount of funding from Omidyar Network .

In January 2019 , ScripboxAdvisors announced that it had completed a $ 21.7 million (approximately 1.5125 billion Indian rupees) Series C financing, led by Accel , with participation from Omidyar Network and NLI Strategic Venture Investments Fund , as well as two angel investors. It is reported that after the completion of this round of financing, the company's valuation reached $ 110 million (approximately 7.752 billion Indian rupees).

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