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Wealthtech firm Scripbox eyes $20 million at $200 million value

Economic Times

Economic Times · 8m ago

Wealthtech firm Scripbox eyes $20 million at $200 million value

Scripbox, a Bengaluru-based wealthtech startup, is aiming to raise $15-20 million at a $200 million valuation, backed by improved financial metrics and industry interest in wealthtech. Accel, a major stakeholder, along with Omidyar Network, has been instrumental in past funding. The company, profitable and with revenues surpassing Rs 100 crore, is considering a strategic funding round for a potential IPO in 18-24 months. Scripbox manages Rs 20,000 crore in assets, serving 100,000 customers.

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Wealthtech startups Dezerv, Stable Money buck trend to draw VCs

Economic Times

Economic Times · 1y ago

Wealthtech startups Dezerv, Stable Money buck trend to draw VCs

Wealthtech startups, including Dezerv, Stable Money, Fisdom, Scripbox, and Angel One, are attracting significant equity funding. Dezerv is close to securing $30 million led by Premji Invest, while Stable Money is set to secure $17 million with RTP Global as the likely lead investor. Fisdom received $5 million from PayU, and Scripbox is reportedly looking to raise $25 million. Angel One intends to raise $240 million for its fintech operations. Wealthtech companies stand out as they have shown profitability and revenue growth, attracting investor attention.

Lenskart May See 20% Increase In Valuation In New Share Sale

Inc42 · 1y ago

Lenskart May See 20% Increase In Valuation In New Share Sale

Lenskart, the Indian eyewear startup, is in discussions with its current investors to raise $200-300 million through a secondary share sale. This funding round would value Lenskart at $6 billion, a 20% increase from its previous valuation of $5 billion. In the fiscal year 2024, Lenskart reported a net loss of INR 10 crore while generating operating revenue of INR 5,428 crore.

Scripbox reports Rs 84.33 Cr revenue in FY24, employee costs cut by 38%

Entrackr

Entrackr · 12m ago

Scripbox reports Rs 84.33 Cr revenue in FY24, employee costs cut by 38%

Scripbox’s revenue from operations grew 44.4% to Rs 84.33 crore during the financial year ending March 2024 as compared to Rs 58.4 crore in FY23. The company also reported a reduction in employee costs by 38%, amounting to Rs 73.13 crore. Despite these improvements, Scripbox faced losses of Rs 44.7 crore, although this was a reduction of 62% from the previous year. The company's assets under management reached Rs 18,500 crore, and it maintained a current ratio of 96.83%. The valuation of Scripbox stands at Rs 1,150 crore or $137 million, with investors including Accel, LetsVenture, and DMI.

Grapevine: TPG-backed OneSource eyes funding; Nomura, Mizuho lead race for Avendus

VCCircle

VCCircle · 1y ago

Grapevine: TPG-backed OneSource eyes funding; Nomura, Mizuho lead race for Avendus

OneSource, a pharmaceutical contract development and manufacturing company backed by TPG Growth, is seeking funding of approximately $200 million. The firm is in talks with investors, including White Oak Capital, HBM Healthcare Investments, Tybourne Capital, and 360 ONE. Final approval from the National... (end)

Meesho Eyes Larger $500 Mn-$650 Mn Round At Lower Valuation: Report

Inc42 · 1y ago

Meesho Eyes Larger $500 Mn-$650 Mn Round At Lower Valuation: Report

Indian e-commerce platform, Meesho, is reportedly increasing the size of its upcoming funding round to $500-650 million, from the initial target of $300 million, due to strong investor interest. The funding round is expected to be led by Tiger Global and Peak XV Partners, with participation from SoftBank, WestBridge Capital and Mars Growth Capital. It is reported that $300 million of the funding will be designated for settling taxes incurred during the transfer of the company's domicile from Delaware to India. The round is expected to value Meesho at $3.9 billion, a 20% decrease from its previous valuation of $4.9 billion.

12-year-old Scripbox turns profitable with Rs 107 Cr revenue in FY25

Entrackr

Entrackr · 15d ago

12-year-old Scripbox turns profitable with Rs 107 Cr revenue in FY25

12-year-old Scripbox turns profitable with Rs 107 Cr revenue in FY25 Wealth management platform Scripbox achieved profitability in FY25, on the back of steady revenue growth and disciplined cost control, particularly a sharp reduction in ESOP-related expenses during the period. Scripbox’s revenue from operations rose 27% to Rs 107.24 crore in the financial year ending March 2025, up from Rs 84.33 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies. Founded in 2012, Scripbox operates a diversified revenue model, earning brokerage and commissions from mutual funds, fixed deposits, PMS, AIFs, and sovereign gold bonds. It also generates income from advisory services and lead-generation fees. The company derived 82% of its operating revenue from brokerage and commissions on mutual fund distribution, which stood at Rs 88 crore, while brokerage from PMS contributed Rs 8.66 crore in FY25. It also earned Rs 7.6 crore from investment advisory fees and Rs 1.14 crore from portfolio management service fees. The remaining revenue came from brokerage on fixed deposits, sovereign gold bonds, AIFs, and other products. The company also earned Rs 2.06 crore from interest and gains on financial assets, taking its total revenue to Rs 109.3 crore in FY25. On the cost side, Scripbox’s employee benefits expense had fallen by 32% to Rs 49.55 crore in FY25, compared to Rs 73.07 crore in FY24. The reduction was mainly due to a steep drop in ESOP-related expenses, which fell to Rs 3.48 crore from Rs 25.72 crore in FY24. The company's overall expenditure dwindled by 29% to Rs 95.82 crore in the last fiscal (FY25) from Rs 134 crore in FY24. On the bottom line, Scripbox posted a profit of Rs 12.77 crore in FY25, supported by a sharp reduction in non-cash ESOP expenses. In FY24, the company had reported exceptional gains of Rs 48.8 crore from the surrender or cancellation of ESOPs, which made it appear profitable; excluding this non-cash item, Scripbox would have recorded a loss of Rs 44.7 crore in FY24. The company’s EBITDA margin and ROCE improved, turning positive at 20.47% and 14.5%, respectively. At a unit level, Scripbox spent Rs 0.89 to generate one rupee of operating revenue in FY25. The firm held only Rs 58 lakh in cash and bank balances at the end of FY25, while its current assets stood at Rs 31 crore during the same period. According to startup data intelligence platform TheKredible, Scripbox has raised over $55 million to date and holds a valuation of around Rs 1,150 crore (approximately $137 million). Its investors include Accel, LetsVenture, DMI, and others. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Accel could raise billions for India, but it's sticking to $650 million

TechCrunch · 11m ago

Accel could raise billions for India, but it's sticking to $650 million

Accel has kept its India fund size at $650 million, prioritizing calculated investments over raising larger capital pools. Unlike its peers, Accel focuses on quality returns with disciplined fund sizes, mirroring U.S. firm Benchmark's strategy. The firm targets about 40 high-quality companies annually from around 300 that emerge at pre-seed to Series A stages. It emphasizes investing in urban wealthtech, AI niche products, and expanding into smaller towns, aiming for strategic growth aligned with evolving market opportunities.

Groww Eyes to Acquire PayU-backed Fisdom, Values Start-Up At $140Mn

OutlookIndia

OutlookIndia · 9m ago

Groww Eyes to Acquire PayU-backed Fisdom, Values Start-Up At $140Mn

Groww, a brokerage platform, is in talks to acquire Fisdom, a PayU-backed wealthtech startup, valued between $140 million and $160 million. This acquisition is part of Groww's strategy to expand into wealth management. Fisdom's early investors might partially exit through secondary share sales. Groww, preparing for an IPO with an estimated valuation of $6-8 billion, aims to raise approximately $700 million, indicating its growth ambitions in the wealth management sector.

VCs fire up wealthtech investments as stock market surge ignites HNI boom

Economic Times

Economic Times · 1y ago

VCs fire up wealthtech investments as stock market surge ignites HNI boom

Indian wealthtech startups are receiving substantial investments as the country's stock markets expand and wealth generation increases. Market intelligence platform Tracxn reports that investors have poured around $228 million into Indian wealthtech startups in the past two years, with $70 million invested so far in 2024. The sector is attractive due to the growing number of high net-worth individuals (HNIs) in India. Wealthtech firms utilize data analytics and technology to offer personalized investment strategies at a lower cost compared to traditional wealth management services. Two types of wealthtech startups are emerging: those focused on premium wealth management and those building fixed income products and platforms for alternative asset classes.

Geniemode eyes ₹500 cr fundraise from new and existing investors

Livemint

Livemint · 1y ago

Geniemode eyes ₹500 cr fundraise from new and existing investors

Bengaluru-based startup Geniemode is reportedly seeking to raise around ₹500 crore ($67 million) from a mix of primary and secondary transactions. The funding round is expected to value the company at $350 million. Private equity firm Multiples and Nandan Nilekani's Fundamentum are said to be evaluating the investment opportunity. Geniemode, which operates as a sourcing platform for B2B buyers in the furniture, home textile, apparel, and accessories sectors, previously raised $28 million in a series B funding round in 2022. The company claims to have over 100 buyers and 250 suppliers across 16 countries, and its revenues in FY23 reached ₹220.4 crore.

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