Digital retirement app PensionBox raises $1,60,000 in capital

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

She has developed a digital pension app that digitizes old-age provision and helps people to secure their old-age provision with the right pension.

With the funds raised, backed by 100X.VC and other angel investors, the company plans to hire a team and develop its product faster in the coming months.

“PensionBox addresses a very important need of billions of Indians who do not have access to the right resources to make an informed choice and then continue to easily track their funds. It is encouraging to see young India developing solutions for legacy systems and serving the Indian workforce better,” said Ninad Karpe, Partner at 100X.VC.

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

The round, which raised $350,000 in capital, was led by SC Innovations Funds and investors from the United Arab Emirates, it said.

The start-up is aimed at young, non-professional investors in Tier 2 and Tier 3 cities in India. It said it will give retail investors access to LIC’s upcoming IPO later this month.

“Our goal is to create wealth for the country’s 290 million underserved retail investors,” said Mithun Tantri, Founder and CEO.

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

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