Making India Wealthier | Atul Shinghal @ Scripbox
Born into a humble background, with a father who retired as a Lieutenant General in the Indian Army, Atul Shingal’s early life was shaped by military discipline and modest means. His academic brilliance earned him a coveted spot at IIT Madras in 1987 as an NTS scholar.
Reflecting on his IIT days, Atul shares some advice for current students:
"Have fun—have so much fun that you feel embarrassed. You guys are excellent, success is guaranteed. You're privileged, just enjoy your time on campus."
Atul’s career began at Kotak Mahindra, where he gained foundational experience in financial services. He later joined Standard Chartered Bank, followed by a significant role at Old Mutual, where he honed his expertise in wealth management and international business operations.
His years in South Africa provided invaluable exposure to joint ventures and diverse markets, experiences that shaped his entrepreneurial approach. Despite achieving senior executive positions, Atul’s desire to create something of his own led him to leave the corporate world.
In 2000, Atul was hired by Capital One to set up operations in India. Although the plan was shelved, it led to a pivotal stint in South Africa via the UK.
"I had to be shipped to the UK, work there for a year where the work permit is easier, and then get an internal transfer."
After 15 years in the corporate world, Atul embraced his entrepreneurial aspirations. He founded Probe Information Services, which became India’s leading corporate information provider.
"Our seminal moment of pride was when we saw CVs of bankers stating, 'we are qualified to use Probe.' That’s when you know you've built something impactful."
Probe’s innovative pay-per-use model and comprehensive database earned it the moniker "Bloomberg terminal of India." By 2015, it was covering nearly 1,000 companies monthly.
"This number is much larger than all of BKC and everybody put together."
In 2012, Atul co-founded Scripbox, a digital wealth management platform, and by the decade's end, he focused entirely on its massive growth potential. Today, Scripbox manages ₹20,000 crores (approximately $2.4 billion) in assets with a team of over 250 employees.
"Our brand promise is a trusted friend—someone you can sleep easy at night knowing will take care of you."
Atul’s leadership philosophy emphasizes empathy and direction.
"I'm much more of a shepherd. I stand behind, set the direction, and guide people the right way."
He learned crucial lessons during his journey, particularly the value of cash management and hiring.
"Cash is king. Just because you have too much money in the bank doesn’t mean you should blow it up."
Probe’s success cemented his reputation, and Scripbox’s growth showcased his vision for digital wealth management.
Atul’s entrepreneurial philosophy is grounded in two core values:
"Do the right thing" and "Do it right." "Do the right thing is about ethics... Do it right is about excellence."
These principles have guided his decisions and shaped the culture of his companies.
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