Basic Capital is a fintech company operating from New York City's SoHo district, focused on retirement services. The firm has raised $25 million in Series A funding to develop its platform, which aims to address what it sees as inadequate retirement savings among American workers - the company cites an average 401(k) balance of $30,000 as a key problem.
The company's core offering is a modern 401(k) platform paired with a product called the "Retirement Mortgage." This financing mechanism is designed to give employees greater investing power with each contribution, effectively allowing workers to build retirement wealth on a larger base. The platform itself provides employers with over 6,000 investment options, real-time compliance monitoring, and flexible administration.
Basic Capital describes itself as a lean, high-performance team with a stated commitment to reducing wealth inequality in America. The company operates in the fintech and retirement services verticals.
