Accel-backed Scripbox expands ESOP pool to Rs 265 Cr

Wealth management startup Scripbox has expanded its employee stock options (ESOP) pool and added fresh options, joining more than a dozen startups that have expanded their ESOP pool size since the beginning of this year.

The board of Scripbox has passed a special resolution to increase the existing ESOP pool by 2,94,808 options to 12,09,726 options, regulatory filings with the Registrar of Companies (RoC) show.

According to Fintrackr estimates, the fresh options added in Scripbox’ stock options is worth around Rs 64.7 crore, whereas the total value of the company’s ESOP pool amounts to Rs 265.4 crore or a little over $33 million.

The development comes after six months of Scripbox’s $21 million Series D round led by Accel Partners. It has raised nearly $48 million since its inception in 2012.

The Bengaluru-based platform helps retail investors make better, more informed investing decisions, and has more than Rs 12,000 crore worth investments under management. It allows customers to invest in tax-saving mutual funds, fixed deposits, US stocks, ETF, NPS, and NFOs.

Earlier this month, Scripbox also made a strategic investment in Pune-based advisory firm Wealth Managers. The size of the deal remains undisclosed.

While Scripbox is yet to file its financials for FY22, the firm’s revenue grew 32.3% to Rs 9.06 crore in FY21 from Rs 6.85 crore in FY20, as per its annual financial statements filed with the RoC. The losses of the company also surged 23.3% to Rs 61.67 crore during FY21 from Rs 50 crore in the preceding fiscal year 2020.

During the first half of 2022, the Indian startup ecosystem saw nearly two dozen ESOP buybacks which declined drastically in the second half. However, the expansion of ESOPs pool continues to thrive in the second half as several companies including Jar, Amagi and Scripbox added new stock to their existing pool. In the first half,  NoBroker, DealShare, Money View, Purplle, LEAP, Wiz Freight, Ather Energy, Ninjacart, Ecom Express, Pine Labs and VeGrow expanded their ESOP pool.