The Efficient Wealth Administrator The company also offers markets and portfolio interactions as well as hand holding through market volatility and 12X7 phone support single-click redemptions optimized for tax through a proprietary algorithm: Atul Shinghal, co-founder and CEO, Scripbox
By Saptak Bardhan •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The start-up ecosystem has evolved over the years in India and fintech has become a prominent figure in the ecosystem. India boasts 11 unicorns in the fintech space alone. Fintech has been the sweet spot for Indian entrepreneurs as they strive to solve the financial problems in the country, increasing the demand as well as financial literacy.
Scripbox is a digital wealth manager that offers comprehensive wealth management solutions for the financial well-being of customers and helps them on their journey to financial freedom. The company's ability to offer better customer outcomes is enabled by a combination of science, technology, and data which form the backbone of the company's investment suggestions and wealth management. The culture at Scripbox is defined by both, commitment to doing the right thing and doing things right.
"Scripbox uses proprietary algorithms and learning models to combine consumer needs with end-to-end wealth management solutions. By using cloud-based infrastructure we are able to provide that consistently in a scalable manner," said Nilakanta Mallick, co-founder and CTO, Scripbox
Scripbox offers advice-to-action in a single place while offering an appropriate mix across mutual funds, direct equity, bonds, PMS, etc. combined with the appropriate insurance coverage. Reviews and recommendations are powered by digital and are assisted by human touch. Periodic portfolio change, review & rebalancing, review of goals, asset allocation framework, and taxation are all done under a single umbrella of Scripbox.
"The company also offers markets and portfolio interactions as well as hand holding through market volatility and 12X7 phone support single-click redemptions optimized for tax through a proprietary algorithm," said Atul Shinghal, co-founder and CEO, Scripbox.
The company has created a culture based on a certain sense of trust and belongingness, which further translates into a dedicated and loyal team. Scripbox believes in extending equal opportunities to all candidates and team members, irrespective of gender, religion, caste, race, etc. Scripbox has deepened and widened its product offering by adding Indian and US Equities, fixed deposits, insurance, and more to its spectrum of wealth solutions over the last year. The company partnered with Stockal to introduce US equities to its customers, with Axis Bank to offer Fixed Deposits, and with Max Life and HDFC Life to offer curated term life plans. The new offerings are being rolled out to cater to customers seeking additional investment avenues for their wealth management and diversification needs. The company is also partnering with offline independent financial advisors and providing its higher ticket customers with a superior product and digital experience. The partnerships have proven to be successful and strengthened Scripbox's geographic footprint and referencability in a rapidly expanding and evolving digital wealth market, claims the company.
FACTSHEET- Funding Amount - $50 million
- Year of inception - 2012
- Number of employees - Approximately 250
- No. of app downloads- over one million
- Assets under management- Approximately 5,000 crore
