Scripbox Acquires Wealth Management Platform Bluechip Capital

The acquisition will help Scripbox expand its customer base, while Bluechip Capital’s clients will gain access to Scripbox’s digital wealth management platform and services.

The company did not disclose the financial terms of the deal. Following the acquisition, Bluechip Capital’s employees and clients will become part of the Scripbox network.

“Bluechip has been in the business for 33 years and has built very strong client relationships. But the next generation of these clients will need digital solutions and institutional support, which Scripbox can provide,” Atul Shinghal, chief executive officer of Scripbox, said.

Shinghal said that Scripbox has completed similar acquisitions before, which have helped the company increase its assets under management and attract more clients.

“Bluechip was managing an AUM north of Rs 1,000 crore, mostly mutual funds,” the CEO said.

Ravi Kohli led Bluechip Capital for nearly 30 years. After the acquisition, Bluechip’s clients will be able to use Scripbox’s digital platform and advisory services, which the company believes are better suited to the growing trend of digital wealth management.

Founded in 2012, Scripbox is a wealth management platform that primarily helps people invest in mutual funds. The company has raised $59 million in funding from investors, including Accel, Omidyar Network, and Nippon Life Insurance.

Scripbox currently manages more than ₹20,000 crore in assets through its mutual fund distribution, portfolio management, and investment advisory services.

For the acquisition, Bluechip Capital was advised by Pegasus Finserv, while Scripbox received advisory support from LegaLogic Consulting and Globeview Advisors.

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