German company KfW acquired a 30% stake in Invest India Micro Pension Services for US $3.28 million following an equity funding round.

In a company statement, Invest India said that Michael & Susan Dell Foundation also put in additional INR 4 lakh to further boost its position in the company.   

Invest India helps the low-income individuals get access to pension by collecting about INR 200 per month. The money collected will then be placed in the UTI Retirement Benefit Pension Fund and the state's NPS Lite Swavalamban.

Gautam Bhardwaj, Invest India Micro Pension Services managing director, said both investments from Michael and Susan Dell Foundation as well as KfW will go a long way to boost financial literacy and client protection mechanisms.

The official said they will continue to forge ahead in their goal of "building a mass-market for non-credit financial and risk management solutions for vulnerable households across the country."