PensionBox raises $160,000 from a clutch of angel investors, others

NEW DELHI: PensionBox, a digital pension app, has raised $160,000 from Kishore Ganji, Keynote India, Aprameya Radhakrishna, SAT Industry and others.

PensionBox was founded in 2021 by Kuldeep Parashar and Shivam Parashar. It is a digital pension app that allows users to create their personalised digital pension plan to track pension savings, contribute and withdraw pension online.

The Bengaluru-based startup said it will use the funds to hire a strong team and build its product faster in coming months to lead the way in the pension sector in India.

“Today, when digitisation has rapidly disrupted just about every aspect of our lives, pension remains a fairly legacy concept. Yet pension, in fact, largely determines life after retirement. Both proper guidance and a platform to take control of one's retirement aren't readily available as they should be. Kuldeep and Shivam's belief in a digital, personalised and flexible solution pension, and PensionBox's vision of ‘reimagining pension for the 21st century’ to ensure a secure future beyond employment struck a perfect chord with us,” said Kishore Ganji, founder, Astir VC, angel investor, and a board member at Hyderabad Angels.

The startup was part of VC firm 100X.VC’s class 06 portfolio.

“PensionBox addresses a very important need for billions of Indians who do not have access to the right resources to make an informed choice and then continue to track their funds easily. At 100X.VC, it is truly heartening to see young India developing solutions for legacy systems and better serve the Indian workforce," added Ninad Karpe, partner, 100X.VC.