Press Release Overview

Safebox, a wealth‑protection platform operating through BEYONDCO TECHNOLOGIES PRIVATE LIMITED, announced on 10 September 2026 that it has closed a seed financing round of $1.11 million (approximately ₹10.5 crore). The round was led by an unnamed family office and included participation from several angel investors, notably Sekhar Garisa, Managing Director of Claypond Capital, who invested in his personal capacity.

Platform Traction and Market Context

The platform was publicly launched in June 2026. Since launch, families using Safebox have recorded assets totalling more than ₹6,000 crore across 55 distinct categories, encompassing bank accounts, multi‑PAN portfolios, stocks, ETFs, multi‑employer EPFs, NPS, insurance policies, liabilities and critical family documents. The company highlights that India’s unclaimed bank deposits stood at ₹86,917 crore as of 30 June 2026, according to a written reply in the Rajya Sabha, with State Bank of India alone accounting for roughly a quarter of that balance. While the government has introduced search portals such as the RBI’s UDGAM, IRDAI’s Bima Bharosa and SEBI’s MITRA, Safebox argues that the core issue is the absence of a consolidated household‑wide asset map, not merely the lack of a search tool.

Solution Description

Safebox defines a new category—Family Wealth Protection—by aggregating and mapping assets, liabilities, insurance policies and nominee information across the 55 categories. The platform integrates with India’s Account Aggregator framework and other regulated financial infrastructure, enabling families (particularly those aged 35‑55 who manage multiple assets and dependents) to maintain a real‑time, shareable record of their financial footprint. The service is built primarily on referrals and word‑of‑mouth growth.

Founder and Investor Commentary

Founder Vijay Veera stated that Indian families spend about thirty years building wealth but only thirty minutes contemplating whether loved ones could locate it, emphasizing that the ₹86,917 crore of unclaimed deposits reflects a record‑keeping problem rather than a recovery issue. Investor Sekhar Garisa noted that India has excellent wealth‑creation infrastructure but little for inter‑generational transfer, and praised the team’s data‑and‑trust‑centric approach.

Use of Funds

The capital raised will be allocated to two priority areas: (1) strengthening product capabilities—including new features, deeper integrations and improved user experience—and (2) accelerating distribution by expanding partner networks, securing corporate tie‑ups and intensifying customer acquisition efforts to reach more families and sustain growth.

About Safebox

Safebox operates through BEYONDCO TECHNOLOGIES PRIVATE LIMITED, which is registered with SEBI as an Investment Adviser (Registration No. INA000021809). This is the founding team’s third venture after two successful enterprises in the USA and India. The founders are Vijay Veera (Co‑Founder and CEO), Vignesh Rengasamy (Co‑Founder and Chief Product & Technology Officer), and Rajesh Sankarappan (Co‑Founder and COO). For media inquiries, contact Vijay Veera (+91 9003555511) or Arvind Subramaniam (+91 97894 97050).