Safebox Raises $1.11 Million to Map What Indian Families Own Before Anyone Has to Look
Coimbatore-based Safebox has raised $1.11 million in a seed round led by a family office to help Indian households record their assets, liabilities, insurance and nominees in one place.
Safebox, a Coimbatore-based wealth protection platform, has raised $1.11 million (about ₹10.5 crore) in a seed round led by a family office. Several angel investors took part, including Sekhar Garisa, managing director of Claypond Capital, who invested in a personal capacity.
The company is trying to solve a problem that most Indian households only discover at the worst possible moment: after a death or serious illness, relatives often have no clear record of what the family owns, where it is held or who the nominee is.
A single record of a family’s wealth
Safebox lets families track financial assets across 55 categories, including bank accounts linked to multiple phone numbers, portfolios held under multiple PANs, stocks, ETFs, EPF and NPS accounts. Alongside assets, users can record liabilities, manage insurance policies, map nominees and store critical documents. The platform integrates with India’s Account Aggregator framework to pull in financial data with user consent.
Since its public launch in June 2026, families using Safebox have recorded ₹6,000 crore in assets, with whole-family, cross-asset holdings and nominee mapping.
“Families in India spend thirty years building wealth and about thirty minutes thinking about whether loved ones could find it,” said Vijay Veera, co-founder and CEO.
Founders on their third venture
Safebox was founded by Veera, Vignesh Rengasamy (co-founder and chief product and technology officer) and Rajesh Sankarappan (co-founder and chief operating officer). The three are childhood friends and serial entrepreneurs, and this is their third company together after earlier ventures in the US and India. The idea grew out of a near-fatal accident that forced the founders to ask whether their own families would be able to locate and access what they owned.
Where the money will go
The company plans to use the capital on two fronts: product and distribution. On the product side, it will invest in new features, integrations and user experience. On distribution, it will build partner networks and corporate tie-ups and spend on customer acquisition.
Why it matters
Unclaimed money is a large and persistent problem in India. Deposits, insurance proceeds, dividends and provident fund balances routinely go unclaimed because heirs do not know they exist or lack the paperwork to claim them. Regulators, including the Reserve Bank of India and SEBI, have run campaigns in recent years to reunite such funds with their owners and have tightened nomination rules across bank accounts, demat accounts and mutual funds.
The spread of the Account Aggregator network has made it technically easier for consumer platforms to build a consolidated view of a household’s finances. Safebox is positioning itself in the gap between wealth tracking apps, which focus on returns, and estate planning services, which are often too formal and expensive for middle-class families.
What happens next
The company’s challenge will be trust. Asking families to put a complete record of their wealth on a single platform demands strong security and clear data practices. Its corporate tie-ups, which could offer the service as an employee benefit, may prove the fastest way to reach users at scale.
