Scripbox Plans Rs 170 Crore Fundraising to Acquire IFA Mutual Fund Business

Bengaluru-based wealthtech company Scripbox intends to raise as much as Rs 170 crore by utilising a combination of equity and debt. This funding aims to facilitate the acquisition of the mutual fund distribution operations of a Delhi-based Independent Financial Advisor (IFA).

The company’s regulatory filing, reviewed by Startup Superb, reveals that the board has authorised a plan to secure up to Rs 60 crore from a select group of family and friends through equity shares, preference shares, convertible instruments, or other types of securities. The filing indicates that the funds will be directed towards enhancing Scripbox’s aggressive growth strategy, bolstering its balance sheet, and preparing for its anticipated initial public offering (IPO).

Additionally, Scripbox has received the green light to access debt facilities amounting to Rs 110 crore from banks, financial institutions, non-banking financial companies (NBFCs), or other lenders. This debt is primarily earmarked for financing the acquisition of the Independent Financial Advisor (IFA).

The filing does not specify the identity of the Delhi-based IFA whose mutual fund distribution operations are set to be acquired.

Expansion Strategy including Acquisition of Mutual Fund Distribution

In line with its growth initiatives, the company approved a draft business transfer agreement to take over the mutual fund distribution business from a Delhi-based IFA. This will involve the purchase and transfer of its AMFI Registration Number (ARN), as well as associated client relationships and responsibilities.

About Scripbox

Founded in 2012, Scripbox operates as a digital wealth management platform located in Bengaluru, assisting retail investors in diversifying their investments across various avenues, including mutual funds, fixed deposits, US stocks, ETFs, and NPS. The platform also provides personalised investment and financial planning solutions.

Scripbox has successfully raised more than $55 million to date and carries a valuation of approximately Rs 1,150 crore (around $137 million). Notable investors comprise Accel, LetsVenture, DMI, among others.

Recent Financial Performance

Although the company has not yet submitted its FY26 results, it achieved profitability in FY25, reporting a profit of Rs 12.7 crore. Furthermore, its operational revenue increased by 27% year-on-year to reach Rs 107.2 crore.

According to data compiled by Startup Superb, Indian wealthtech startups have collectively raised over $634 million through 51 deals featuring 39 startups during 2024 and 2025. In the current calendar year, companies such as Centricity, AssetPlus, Wint Wealth, Sahi, and Bachatt are actively engaging in fundraising, showcasing the vibrant investment landscape within the sector.