Basic Capital

Basic Capital is a venture-backed fintech company based in New York City's SoHo district that builds a modern 401(k) platform for employers. The platform offers flexible plan administration and gives employees access to more than 6,000 investment options, alongside real-time compliance monitoring - a technical domain spanning retirement and investment platform engineering, financial product development and live regulatory oversight.

The company's flagship financing product, the Retirement Mortgage, combines elements of the mortgage, index fund and LLC concepts to amplify workers' purchasing power for retirement investing. The proposition is that contributions build wealth on a larger base, drawing an analogy to how the FHA Mortgage broadened homeownership. Basic Capital frames its market against the stagnation of the 401(k), which it notes has been largely unchanged since 1979 and sits alongside an average U.S. balance of roughly $30,000.

Basic Capital has raised $25 million in a Series A round and operates as a lean, high-performance team of unspecified headcount. Its stated focus is on serving working and middle-class households and reducing wealth inequality in America. Employees span the retirement services, financial services, employee benefits and fintech verticals, with engineering work concentrated in retirement and investment platform technology, real-time compliance monitoring and financial product engineering.