Scripbox raises Series B funding Omidyar Network and others


Scripbox, Bangalore based FinTech startup has raises an undisclosed amount in Series B round of funding led by Omidyar Network. A bunch of existing investors also participated in the round. The raised funds will be used to brand building using which the startup targets to become one of the trust-able options for the users for savings and investments.

Started by Sanjiv Singhal and Atul Singhal in 2012, Scripbox selects the best mutual fund investment option for the users and helps them eliminate the kind of confusion they might have seeing a lot of options generally. Right now, the startup is working with 4 mutual funds which have been researched upon and scientifically selected.

Prior to this, the startup has raised 2 rounds of investment. The latest being $2.3 million in Series A funding by Accel Partners and a bunch of leading angel investors. Prior to that, the startup had raised $616k in seed funding fro Accel Partners and other angel investors.

Currently, the startup boasts of having presence in over 370 cities across India and the customer base has grown 10 times in last year and a half.

Speaking on the development, Anuradha Ramachandran, Director of investments at Omidyar Network stated that India is currently going through a transition phase and as it gets more digital and people get more aware, the role of startups like Scripbox will come into play which help people to make smart investment choices.