Scriptbox, the Bangalore based financial technology startup has raised a Series A funding of $2.49 million from Accel Partners and group of angel investors.
The investment will be used towards, expansion of operations, improving presence in the market and growing the customer base according to TOI.
Apart from Accel, MakeMyTrip co-founders, Deep Kalra, Rajesh Magow and Mohit Gupta also participated in the funding round along with other angel investors such as Shamik Sharma (Myntra) and Subba Rao Telidevara (former partner with PE firm Actis).
The startup was funded in 2012 by IIM Bangalore alumnus Sanjiv Singhal and Atul Shinghal. Scripbox is an online mutual fund investment platform. It helps its consumers invest in mutual funds.
In 2012, Scripbox had raised seed funding of Rs 4 crore from Accel Partners and Balakrishna Adiga (IT Industry Veteran), H S Nagaraja (educationist) and S Sriniwasan (CEO, Kotak Realty fund).
Subrata Mitra, partner with Accel Partners said,
“Scripbox adopts a consumer-centric, and practical approach to building long term investing habits. This platform will play a significant role in influencing the way people manage their money and make it grow.”