Coimbatore-Based Safebox Raises $1.1 Million in Seed Round

Coimbatore: Coimbatore-based Safebox, a wealth protection platform designed to help Indian families track and protect their financial assets, has raised $1.1 million in a seed funding round led by a family office, with participation from Sekhar Garisa, Managing Director at Claypond Capital, and a group of angel investors.

Safebox was publicly launched in June 2026 and says it has already helped families record and protect more than ₹6,000 crore in assets across 55 categories. The platform is positioning itself around a new category it calls "Family Wealth Protection", focused on helping families maintain a consolidated record of their financial assets and liabilities.

According to the company, the idea emerged after a near-fatal accident involving two of its founders led them to consider whether their families would know what they owned if they were no longer available to manage their financial affairs.

The company said this experience led three childhood friends and serial entrepreneurs to develop a platform aimed at addressing what they describe as a gap in household financial record-keeping.

### Unclaimed assets highlight documentation gap

Safebox's launch comes against the backdrop of significant unclaimed financial assets in India. According to the company's statement, unclaimed bank deposits transferred to the Reserve Bank of India's Depositor Education and Awareness Fund stood at ₹86,917 crore as of June 30, 2026, based on a written reply in the Rajya Sabha in August 2026.

The company said State Bank of India accounted for roughly a quarter of this amount. It also pointed out that insurance and mutual fund unclaimed-asset figures are published separately by IRDAI and SEBI under different reference dates and definitions.

Safebox argues that the absence of a single consolidated view of household assets can make it difficult for families to identify and access financial holdings, particularly when a family member responsible for managing finances becomes unavailable.

The company noted that the government and financial regulators have introduced several initiatives to help individuals recover unclaimed assets. These include the Department of Financial Services' Common Landing Portal for Unclaimed Financial Assets, along with the RBI's UDGAM platform, IRDAI's Bima Bharosa and SEBI's MITRA.

Safebox said these services primarily help families search for financial assets they already suspect may exist, while its platform focuses on maintaining a consolidated record of assets before such a situation arises.

### Family Wealth Protection

Safebox describes Family Wealth Protection as a category positioned between wealth creation and wealth transition. The company said its platform is not intended to function simply as a portfolio tracker or investment platform.

The platform allows families to record assets, liabilities, insurance and other financial and family information across 55 categories. It also enables users to map nominees against holdings and organise information so that a spouse or other family member can locate relevant financial details during an emergency or transition.

The company said Safebox integrates with India's regulated financial infrastructure, including the Account Aggregator framework.

According to Safebox, financial complexity has increased for Indian households, particularly among people in the 35 to 55 age group who may simultaneously manage investments, insurance, property-related information, dependants and the financial affairs of ageing parents.