Wealthtech startup Scripbox has acquired the mutual fund distribution business of wealth management firm Bluechip Capital to expand its footprint in Delhi NCR.

Via the acquisition, Scripbox will acquire Bluechip Capital’s clients and employees, who will gain access to Scripbox's "institutional research capabilities, data-driven asset allocation and full-spectrum digital wealth management offerings."

The startup didn't disclose the financial specifics of the amalgamation deal.

Founded in 1993 by Ravi Kohli, Bluechip Capital offers its clients mutual fund distribution services. It also offers clients credible succession plans, long-term institutional continuity and world-class platform capabilities.

"When we find firms who share our commitment to putting clients first, it creates the foundation for something meaningful. Bluechip Capital is exactly that kind of firm. Ravi has built something rare - 33 years of deep trust - and we are proud to carry that forward," Scripbox's CEO Atul Shinghal said.

Important to mention that has previously acquired multiple other investment platforms like Wealth Managers, Upwardly, and Mitraz Financial, with the aim of integrating independent wealth management businesses across India.

Founded in 2012 by Shinghal and Sanjiv Singhal, Scripbox allows users to invest in various mutual fund schemes for long term wealth generation and also offers financial planning services through its AI-powered tech stack.

The startup has raised over $55 Mn in funding to date from investors like Accel, Omidyar Network, Flourish Ventures, and Nippon Life Insurance, and was last valued at $138 Mn. Last year, it was reportedly in talks to raise $15-20 Mn at a valuation of $200 Mn.