[Funding alert] Digital pension app PensionBox raises $160k funding

PensionBox, a digital pension app has raised $160,000 from Kishore Ganji, Keynote India, Aprameya Radhakrishna, SAT Industry, and others.this funding round was backed by 100X.VC and from Marquee Angels.

Bengaluru based digital pension startup, Pensionbox was founded in 2021 by two brothers, Kuldeep Parashar and Shivam Parashar. Pensionbox is India’s first digital pension platform that digitises pensions and empowers millions to secure their retirement with the right pension.

“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.

Users can create their personal digital pension plan in minutes through this platform to track pension savings, contribute and withdraw pension online.

“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.

PensionBox plans to use this funds to hire a strong team and build its product faster in the coming months to lead the way in the pension sector in India.