Scripbox
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In brief
The Times of India, Mar 18, 2016
Bengaluru startup is 2nd most effective financial brand
Scripbox, an Indian online mutual funds investment platform founded barely four years ago, has been ranked No. 2 among the 50 most effective financial services brands in terms of using the LinkedIn platform to engage, educate, and inspire its target audience. All others in the top 10 are global brands, with Citibank heading the list. Others include Allianz, ABN Amro, American Express, Wells Fargo, BlackRock, JP Morgan, Morgan Stanley and Canadian company Payfirma. "Not only do these marquee names know how to position their brand and products with engaging and comment worthy content on LinkedIn, they also know their audience and where to find them," the professional networking site said in a blog post published. Scripbox, based in Bengaluru, was started by finance professionals Atul Shinghal, Sanjiv Singhal and W S Ravishankar in 2012. It automates the best practices for effective mutual fund investment. The company's algorithm selects what it calculates as the eight best mutual funds, out of the approximately 8,000 in India, to invest customers' money in. The eight will include four equity funds, two debt funds and two tax-saving funds.
Scripbox received a funding of Rs 16 crore from Accel Partners and other angel investors last year. "In the financial world, very complex terms are used to explain simple products and making complex financial argon simple is our main motto. We, being a tiny financial services company, feel very humble, being placed beside the giants," chief executive Ashok E R told TOI. The LinkedIn list was pre pared using the LinkedIn Content Marketing Score CMS), which is calculated by measuring the ratio between the total target audience and he unique users that engaged with the content in 2015.
CMS also evaluates all content-based activities on the LinkedIn platform, such as company page updates, employee shares, sponsored updates, and influencer and employee posts through self publishing on LinkedIn. Scripbox said the average Systematic Investment Plan (SIP) on its platform is between Rs 15,000 and Rs 20,000 and 70% of its customers are first time investors. It manages assets worth Rs 135 crore currently.
Founders Atul, Sanjiv and Ravishankar had first met as students in IIM Bangalore. Atul worked in the finance and insurance industries, with big names like Standard Chartered and Capital One. He worked in South Africa for several years and then returned to India to start Old Mutual's foray into mutual funds in the country. Sanjiv worked in Kotak Mahindra and Cybercash, one of the earliest e-payment services in India.
