3 Coimbatore Founders Turn Near-Fatal Accident Into Safebox, Protect Rs 6,000 Cr in Family Assets, Raise $1.11M

"You will be surprised to know that nearly Rs 1 lakh crore is unclaimed because deceased families may not know where those assets are held. The matter is even before the Supreme Court. To tackle this challenge, the Coimbatore-based friends and serial entrepreneurs Vignesh Rengasamy, Rajesh Sankarappan and Vijay Veera launched Safebox, a wealth protection platform. An Accident Led To The Idea of Safebox It was 2024 when the college friends, Vignesh and Rajesh, also co-founders of Safebox, had finished their meeting in Bangalore. While returning to Coimbatore on the Bangalore-Coimbatore highway by car, they almost met with an accident. While they were grateful to be safe, they also had a disturbing thought. “We began thinking, "If something were to happen to us, would our family know where our bank accounts, stocks, insurance policies, and investment accounts are, and how to access our important documents?"” Vignesh told Startup Pedia.Advertisment Add Startup Pedia As A Trusted Source After that, they spoke to over 650 families in their immediate and extended circles to understand the depth of the challenge. They concluded that many Indian families do not necessarily have a money problem. They have a problem of visibility. Financial information is often scattered across a number of bank accounts, mutual funds, stocks, insurance policies, property documents, spreadsheets, and physical files. In many families, one person is effectively the goalkeeper of the entire financial map in their head. This becomes a huge challenge when that person is no longer around to explain how much money there is and where it is held. “We realized that people don"t necessarily need one more investing platform, rather a platform where they can organize their entire financial data and control what and what not to share with their family members,” said Vijay, Co-founder of Safebox, in the Startup Pedia interview. Screenshot of Safebox app Photograph: (Special arrangement- Safebox) Also read: From Building Race Cars to Boosting Crop Yields: Manipal Graduate's Fertilizer Brand Eyes 1000 Crore Revenue Bringing Scattered Financial Information Together Safebox uses the RBI"s Account Aggregator framework to pull financial information with the consent of the user. As a member of Sahamati, the company taps into the Account Aggregator ecosystem to get information from over 200 financial institutions. Users can upload information related to their bank accounts, mutual funds, stocks, and NPS in Safebox by providing their PAN number and requisite consent. Safebox has also partnered with credit bureaus to get loan information automatically. Where such integrations are not available, users can also upload documents manually. Safebox"s AI is able to pull information from uploaded insurance documents and fill fields like type of insurance, value, and expiry date. The platform also integrates with DigiLocker to collate important family documents in one place. Giving Family Members Access, Without Giving Up Privacy Safebox is a platform where users can organize their entire financial data and also share it selectively with their family members as per their needs. For instance, a parent may want to share land records with a son and fixed deposit information with a daughter but not give them access to the entire financial portfolio. A spouse can also share what stocks they have invested in with their partner, but not necessarily the full value of those stocks. Users can also set a mechanism for emergency access on the platform. For instance, certain information is automatically shared with designated nominees or family members if they are inactive for three or five months. The founders said in the Startup Pedia interview, “The idea is to provide families with access when it"s needed, without forcing users to share everything all at once.” Screenshot of Safebox app Photograph: (Special arrangement- Safebox) Also read: Started with Just ₹30,000, This Odisha Entrepreneur Built a ₹10 Crore Annual Turnover EdTech Startup Read-Only by Design: Protecting Your Data Safebox is built around the organization and protection of information, not the execution of financial transactions. The platform is read-only, meaning users cannot make transactions through the app. The data is stored in India on Amazon Web Services (AWS). It was built with a privacy-by-design approach and uses AES 256 encryption. “We don"t sell customer data or use users" financial information to sell financial products at all,” said Vijay, founder of Safebox, in the Startup Pedia. A Subscription-Led Business Model The Safebox app is available on iOS and Android. Launched in June 2026, it has 5,000+ users so far and has already helped customers protect over Rs 6,000 crore in family assets across 55 categories. The company"s revenue model is subscription-based, rather than relying on the monetization of financial information. “7-10% of users are converting to paid subscriptions. It is a sign that users are willing to pay for a service that is centered around financial organization and family access,” said Vignesh, the founder of Safebox. Also read: Struggling to Find Manufacturers, 59-YO Serial Entrepreneur Launches Global Marketplace with 20,000 Manufacturers Listed on its Platform Screenshot of Safebox app Photograph: (Special arrangement- Safebox) Backed by $1.11 Million, Safebox Bets on Trust Safebox recently raised $1.11 million from a family office and high-profile angel investors, including Sekhar Garisa Reddy, Managing Director, Claypond Capital, who invested personally. Much of the funding will be spent on growth and user acquisition. “Every finance app wants to grow your wealth. Nobody looks after what you've already built,” said Vijay, the founder of Safebox, at the end of the interview. He further added, “We saw families struggle to find what they owned, so we built Safebox to help you understand, track and protect your wealth. No pushing to invest, buy or switch. Someone needs to own this side of wealth. We chose to.” Also read: Meet the Delhi Brothers Helping People Travel Across India for "almost Free" With Purpose. 11,000+ volunteers already travelled FAQ Q. What is Safebox? A. Safebox is a coimbatore-based wealth protection platform that helps families organize bank accounts, investments, insurance policies, loans, and important documents in one place. Q. Who founded Safebox? A. Safebox was founded by Coimbatore-based friends and serial entrepreneurs Vignesh Rengasamy, Rajesh Sankarappan, and Vijay Veera. Q. When was Safebox founded? A. The founders began working on the idea after a near-accident in 2024 and formally built Safebox as a startup in 2025. Q. What problem does Safebox solve? A. Safebox helps families keep track of their financial assets and important documents so that family members can find and access them when needed. Q. How many users does Safebox have? A. Safebox has nearly 5000+ users, wherein 7-10% are paid subscribers. Q. How much funding has Safebox raised? A. Safebox has raised $1.11 million from a family office and angel investors. "