We often come across the word ‘Investment’ and its importance whenever we talk about financial stability. Investment in the economic sense means to purchase goods for future consumption with the expectation of creating wealth from it. On the other hand, investment in finance means to purchase monetary assets with the idea that the asset will provide income in the future or help in gaining profit when sold at a higher price in the future.
In a country like India, nearly 2.5% of the population invests in mutual funds while others either save or invest in traditional instruments. The concept of investment in mutual funds is not given much priority due to the availability of traditional instruments like gold and real estate or fixed deposits and also due to lack of advice and knowledge of how, when, and where to invest including the nature of the market.
Keeping in mind this issue, 3 veterans used this vision and set up Scripbox in 2012, an online investment platform.
Atul Shingal, Askoh Kumar E R, and Sanjiv Singhal founded Scripbox, an online investment platform in 2012 in Bengaluru, Karnataka. Scripbox is now one of the fastest-growing asset management having 1500 crores in AUM and serving more than 1 million subscribers to reach their financial goals!
The company has also received a series of funding from Accel Partners, Omidyar Network, and various angel investors.
The investment journey of millions
The vision behind Scripbox is pretty simple, to educate and help people invest in mutual funds by making the communication seamless and jargon-free. The company has developed an algorithm that picks up only best performing mutual funds by studying the market thoroughly. It narrows down 10 best performing mutual funds from over 8000 mutual funds available and then shortlists them into four different categories- long-term, short-term, tax-saving, emergency fund.
The signing up process to start investing is also very simple for the investor. The entire process is paperless and free of charge facilitating easy and stress-free transactions. The communication is simple and jargon-free helping investors understand where to put their money as per their goals.
Scripbox also takes charge of reviewing the funds to make sure their customers are invested only in the best mutual funds. The company has been providing these services with just a click to 1 million subscribers across 1250 cities drawing them close to achieving their financial goals and making them financially independent.
It aims to make many more people financially independent and making their money work for them the best way!
Not to a surprise, Scripbox was a part of Fintech_Global’s WealthTech100 2020 list of the world’s most innovative 100 companies for the second year in a row.
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