Bengaluru-based wealthtech startup Scripbox founded by Atul Shinghal is preparing for a fresh capital push of up to Rs 170 crore as it looks to strengthen its balance sheet, expand its mutual fund distribution base, and move closer to its planned initial public offering.
The planned raise will include both equity and debt. The company’s board has cleared a proposal to raise up to Rs 60 crore from a select group of friends and family investors. The funding may come through equity shares, preference shares, convertible instruments, or other securities.
Alongside this, Scripbox has also received approval to avail debt facilities of up to Rs 110 crore from banks, financial institutions, NBFCs, or other lenders. The debt component is expected to be used mainly for acquiring the mutual fund distribution business of a Delhi-based Independent Financial Advisor.
Acquisition-led growth before IPO
The proposed transaction appears to be part of a larger expansion strategy rather than a routine fundraise. Scripbox has approved a draft business transfer agreement to acquire the mutual fund distribution business of the Delhi-based IFA. The acquisition will include the purchase of the IFA’s AMFI Registration Number, along with associated client relationships and related business assets.
For a digital wealth management platform, such an acquisition can offer immediate access to an existing investor base. It also gives the company a chance to deepen its mutual fund distribution business at a time when wealthtech startups are trying to combine digital scale with trusted advisory relationships.
The move comes as Scripbox prepares for a targeted IPO. The proceeds from the equity raise are expected to support the company’s accelerated growth strategy, strengthen its balance sheet, and help it get ready for the public markets.
From digital wealth platform to public-market contender
Founded in 2012, Scripbox operates as a digital wealth management platform. It helps retail investors invest across mutual funds, fixed deposits, US stocks, ETFs, and NPS, while also offering investment and financial planning solutions.
The company has raised over $55 million so far and is valued at around Rs 1,150 crore, or about $137 million. Its investor base includes Accel, LetsVenture, DMI, and others.
The fresh capital plan comes at an important moment for the company. Scripbox turned profitable in FY25 with a profit of Rs 8.8 crore. Its operating revenue also grew 27 percent year-on-year to Rs 107.2 crore during the same fiscal year.
The company is yet to file its FY26 results.
Wealthtech funding stays active
Scripbox’s planned fundraise also comes during a busy phase for India’s wealthtech sector. Indian wealthtech startups raised over $634 million across 51 funding deals involving 39 startups during 2024 and 2025.
Several companies in the category have either raised capital or are in the process of doing so. AssetPlus secured $19.3 million, Wint Wealth raised $28 million, Sahi bagged $33 million, and Bachatt closed a $12 million round. Jiraaf is also working on an extended Series B round.
Centricity is in talks to raise around $30 million in fresh funding. The round is expected to include participation from Mitsubishi UFJ Financial Group and Susquehanna International Group, with the company likely to be valued at around $250 million. In 2024, Centricity had raised $20 million in a seed round at a valuation of $125 million.
Another large transaction in the segment came from Dezerv, which secured $40 million in October 2025 from Premji Invest and Accel at a valuation of $300 million.
Significance Of Scripbox’s Move
Scripbox’s latest plan signals two things clearly. First, the company is not relying only on organic growth as it prepares for the next stage. By acquiring an IFA’s mutual fund distribution business, it is looking to add clients, advisory depth, and distribution strength.
Second, the company appears to be cleaning up its growth story before entering the IPO track. Profitability in FY25, revenue growth, balance-sheet strengthening, and acquisition-led expansion together create a more complete public-market narrative.
India’s wealthtech sector has become increasingly competitive, with startups trying to capture affluent and mass-affluent investors who want digital access, but still value guidance when it comes to long-term financial planning. This is where platforms like Scripbox are trying to position themselves, between technology-led investing and human-assisted advisory.
For now, the company’s next key steps will be the completion of the proposed acquisition, closure of the planned debt and equity raise, and its eventual IPO preparation. The timing of the public issue has not been disclosed.
