Digital pension app PensionBox raises $1,60,000 capital

PensionBox, a digital pension app has raised $1,60,000 from Kishore Ganji, Keynote India, Aprameya Radhakrishna, SAT Industry and others, the firm said.

It has developed a digital pension app that digitises pensions and helps people to secure their retirement with the right pension. 

With the funds raised, backing from 100X.VC, and other angel investors, the firm plans to hire a team and build its product faster in coming months.

“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. It is heartening to see young India developing solutions for legacy systems and better serve the Indian workforce,” Ninad Karpe, partner, 100X.VC said.

Meanwhile, Chhotastock, which deals with small-ticket stocks said it has closed its pre-seed round of funding this week from a clutch of angel investors from India and the UAE. 

The round involving capital raise of $350,000 was led by SC Innovations Funds and investors from the UAE, it said. 

The start-up is targeting young, non-professional investors in tier 2 and 3 cities of India. It said it will give small investors access to the upcoming LIC IPO later this month.

“Our aim is to create wealth for the 290 million underserved small investors in the country,” said Mithun Tantri, founder and CEO.

The firm said it will quickly raise more growth capital in the coming future to support its expansion plans.