Basic Capital is a fintech company addressing a structural gap in American retirement savings. Based in New York City's SoHo district, the firm has raised $25 million in Series A funding to develop products aimed at reducing wealth inequality through better access to investing.
At the centre of its offering is the Retirement Mortgage, a financing product that provides workers with amplified investing power on a larger base - functioning in a manner analogous to how an FHA mortgage boosts purchasing power for homeownership. This is paired with a Modern 401(k) Platform for employers, which offers over 6,000 investment options, real-time compliance monitoring, and flexible administration.
The company operates as a venture-backed startup with a lean, high-performance team. Its mission is grounded in a specific challenge: the average American 401(k) balance sits at roughly $30,000, a figure Basic Capital seeks to change by equipping workers with tools to build wealth more effectively.
