Rainmatter Investments picks majority stake in PensionBox, early investors exit
The founders of PensionBox, Kuldeep Parashar and Shivam Parashar, will collectively retain 48% stake in the company following the acquisition.
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Zerodha-backed Rainmatter Investments has acquired a 51% stake in the digital pension startup PensionBox for $2 million.
The deal facilitated an exit for early investors 100X.VC, SAT Industries, Keynote Capital, LetsVenture, and angel investors.
The founders of PensionBox, Kuldeep Parashar and Shivam Parashar, will collectively retain 48% stake in the company following the acquisition.
Under the new deal, the startup will focus on the corporate National Pension System (NPS) segment, while Zerodha's Coin will serve retail users.
PensionBox is a PFRDA-regulated platform based in Bengaluru that helps individuals and companies manage NPS accounts.