Online mutual funds investment platform Scripbox has raised Rs 16 crore in Series A funding led by Accel Partners and participation from leading angel investors.
Scripbox will use the capital to expand its operations, consolidate its presence in the market and grow its customer base.
The firm has adopted a consumer-centric approach to investing in mutual funds and simplifies personal finance for the common man.
Scripbox does this by automating best practices in investments such as bias-free scientific fund selection, diversification, annual fund review, rebalancing and tax considerations.
Apart from Accel, Deep Kalra, Rajesh Magow, Mohit Gupta, Shamik Sharma and Subba Rao Telidevara also participated in the Series A funding round.
Scripbox had earlier raised a seed round of Rs 4 crore led by Accel.