PinBox has built the white-labelled and fully API-enabled micro-pensiontech platform that integrates the digital ID, finance and payments ecosystem to 'switch-on' an inclusive social security marketplace. Apoorva Sharma, co-founder and president, Venture Catalysts. We're delighted to provide pinBox the capital it needs to multiply the impact of its mission,' shared Dr. Parul and Gautam clearly have unique expertise, experience and passion that is needed to succeed at scale. 'We strongly echo the urgent need for simple and easy access to micro-pensions and social protection by millions of informal sector workers. PinBox has worked extensively 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.

We must urgently encourage and enable young, economically active citizens to start saving for a 25-year retirement. By 2050, this problem will become too large and irreversible - somewhat like climate change. Without comprehensive social protection, we are staring at an old age poverty crisis that will soon impact everyone in the world. Talking about the need of micro-pension products, Gautam Bhardwaj, co-founder, pinBox said, 'In the last year or so, we have seen how vulnerable self-employed women and informal workers without savings and insurance are to risks, and how unprepared most are to withstand even short-term income shocks. In 2020, pinBox joined hands with WhatsApp and integrated its platform with the popular app to make saving for old age as quick, easy and simple as sending a message. UnsplashДЇounded in 2016 by industry veterans Parul Seth Khanna and Gautam Bhardwaj, pinBox uses 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. Venture Catalysts' accelerator fund 9unicorns also participated in the round.

At the present time, IIMPS is assisting and enabling ~680,000 urban and rural low income individuals in over 100 districts of 14 States of India to save for their old age.Global pensiontech pinBox, committed exclusively to digital micro-pension and social security inclusion, has announced on Tuesday to have raised $1 million funding in a round led by integrated incubator Venture Catalysts (VCats). Individual clients transmit periodic micro-savings to IIMPS product partners using secure, cashless micro-payment instruments including their bank accounts, prepaid cards or mobile wallets. IIMPS delivers these products in collaboration with national and regional banks, microfinance institutions, employers, self-help groups, NGOs, cooperatives, worker associations and unions. Through independent contract agreements, IIMPS delivers pension products co-developed by its promoters with the Government of India and with UTI, IndiaвЂ™s largest AMC, and has begun to also offer micro-insurance products from LIC, IndiaвЂ™s largest life insurer. Invest India Micro Pension Services (IIMPS) is a social enterprise focused exclusively on encouraging and enabling low income informal sector workers to accumulate micro-savings for their old age.В IIMPS has developed a proprietary Micro PensionВ model as well as a scalable and streamlined, technology-led platform capable of delivering a range of non-credit financial services to the working poor at an affordable transaction cost.

Pinbox retirement