Funding · Financial Services
Zerodha invests $2 million in Pensionbox
By Startup Enthusiast ·
- Date
- Company
- PensionBox
- What it does
- Digital NPS platform for retail and corporate
- Kind
- Funding
- Amount
- $2 million
- Stage
- Series A
- Based in
- Bengaluru
- Sector
- Financial Services
What they do
Pensionbox is a Bengaluru-based digital NPS platform, regulated by PFRDA, offering instant account opening, SIP contributions, and corporate NPS solutions
What happened
Zerodha invested $2 million in Pensionbox and formed a joint venture to scale corporate NPS; Rainmatter Investments acquired a majority stake via primary…
Why it matters
The deal gives Zerodha a 51% stake, with founders retaining 48%; funds will support expansion and sales over the next 1-2 years
The details
- Zerodha invested $2 million in Pensionbox, a digital NPS platform, and formed a joint venture to scale corporate NPS adoption.
- Rainmatter Investments, backed by Zerodha, acquired a majority stake in Pensionbox through primary and secondary transactions for $2 million.
- The deal gives Zerodha a 51% stake, while the founders retain 48% collectively.
- Early investors, including 100X.VC, SAT Industries, Keynote Capital, LetsVenture, and angel investors, exited as part of the secondary transactions.
- The funds will support expansion, sales, and marketing efforts over the next 1-2 years.
- Pensionbox will focus on corporate NPS, while Zerodha's Coin app serves retail NPS users.
- The co-branded initiative with Zerodha aims to facilitate corporate NPS adoption among employers.
The bigger picture
- The new tax regime reduces NPS advantages, but NPS remains the only tax-saving instrument, with deductions up to 14% of basic salary for employer contributions.
- PFRDA reforms in January 2026 reduced the lock-in to 15 years, allowed partial withdrawals, and enabled loans against NPS, making the product more attractive.
- Banks are currently the largest facilitators of Corporate NPS, so this move could challenge their dominance.
- With only 22,000 of about 7 lakh companies offering NPS, there is significant headroom for growth.
About the business
- Pensionbox is a Bengaluru-based digital NPS platform, regulated by PFRDA.
- The platform offers instant account opening, investment tracking, SIP contributions, and automated Corporate NPS.
- It integrates directly with corporate payroll software for seamless adoption by employers.
- Pensionbox serves around 2 lakh retail NPS customers.
- The company earns a commission of about 0.2% on assets under management (AUM) for NPS providers.
- In FY25, Pensionbox reported operating revenue of Rs 1.75 lakh, expenses of Rs 77 lakh, and a net loss of Rs 75 lakh.
What happens next
- Pensionbox plans to use the funds for expansion, sales, and marketing over the next 1-2 years.
- The company will focus on corporate NPS adoption, leveraging the co-branded initiative with Zerodha.
- Pensionbox aims to scale its platform to serve more employers and employees.
The deal
- Type
- funding
Investors
- Zerodha (lead) — Zerodha is a major Indian stockbroker and the parent of Rainmatter Investments.
- Rainmatter Investments (acquirer) — Rainmatter Investments is the investment arm of Zerodha.
Founders
- Kuldeep Parashar, Founder and CEO
- Shivam Parashar, Co-founder
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