Zerodha's Rainmatter Acquires Majority Stake in PensionBox for USD 2 Mn Following the transaction, the founders will retain a combined 48% stake in the company.
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Zerodha-backed Rainmatter Investments has acquired a majority stake in digital pension platform PensionBox for USD 2 million through a mix of primary and secondary transactions.
Founder Kuldeep Parashar said the fresh capital, along with previous funding, will help the company scale its operations over the next one to two years. He did not disclose the company's valuation.
Regulatory filings show that Zerodha has acquired a 51% stake in the Bengaluru-based startup. The deal provided a full exit to early investors including 100X.VC, SAT Industries, Keynote Capital, LetsVenture, and several angel investors. Parashar confirmed the transaction.
Founded in 2021 by brothers Kuldeep and Shivam Parashar, PensionBox is a Pension Fund Regulatory and Development Authority (PFRDA)-regulated digital platform that enables individuals and businesses to manage National Pension System (NPS) accounts. The app offers instant account opening, investment tracking, systematic investment plan (SIP) contributions, and automated corporate NPS solutions, aiming to simplify pension management compared to traditional processes.
Following the transaction, the founders will retain a combined 48% stake in the company.
Parashar said the partnership will see PensionBox focus more on the corporate NPS segment, while Zerodha's Coin platform will cater to retail users.
Zerodha's Neelesh Verma said Rainmatter backs founders without interfering in day-to-day decisions and invests where there is alignment in long-term vision.
For the financial year ending March 2025, PensionBox reported operating revenue of INR 1.75 lakh and expenses of INR 77 lakh, resulting in a net loss of INR 75 lakh.
