Global Pension Tech Platform PinBox Raises $1M In Seed Round From Venture Catalysts

• ByAyushi Ray     |    July 20, 2021

Global pension tech platform PinBox raises $1M in seed round from Venture Catalysts. The company was founded in 2016 by industry veterans Parul Seth Khanna and Gautam Bhardwaj, They use technology, process innovation, and a simple, intuitive user interface to address friction and access challenges in delivering micro-pension and insurance solutions to underserved informal sector workers. Gautam Bhardwaj, CEO, pinBox, said “Without comprehensive social protection, we are staring at an old age poverty crisis that will soon impact everyone in the world. By 2050, this problem will become too large and irreversible — somewhat like climate change. We must urgently encourage and enable young, economically active citizens to start saving for a 25-year retirement. There is no other option.”

Last year only, pinBox joined hands with messaging app, WhatsApp and integrated its platform with the app to offer an easy saving platform for people planning to save money for post retirement. Yehy wanted to make it hassle free and as easy as sending a text. pinBox has previously worked with several governments, regulators, financial inclusion stakeholders, and DFIs like World Bank, UNCDF, and UKAID across Asia and Africa on expanding digital micro-pension and social protection coverage to self-employed women and informal sector workers including gig-workers. The startup said it has built a white-labelled and fully API-enabled micro-pension-tech platform that integrates the digital ID, finance, and payments ecosystem to “switch-on” an inclusive social security marketplace. 

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