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💸 Billion Dollar Business Ideas (#2)

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💸 Billion Dollar Business Ideas (#2)

Build a retirement management platform like Penelope

Jaisal Rathee
Nov 2, 2022
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💸 Billion Dollar Business Ideas (#2)

billiondollarbusinessideas.substack.com

Hi! 👋

My name is Jaisal and I started this newsletter to help you find inspiration & discover billion dollar business ideas that you should steal for your next startup.


💸 Business Idea: Build a retirement management platform like Penelope

Penelope is a 401(k) platform that gives small businesses an affordable and east-to-use way to provide retirement benefits. The team has built a self-service retirement platform that allows users to manage their own retirement funds. The idea is simple - let employees manage their retirement savings without the hassle, 30-40 pages of unnecessary jargon or any hidden charges.

💰 Funding: Raised ~$2.1M Pre-Seed in March’22 from Slauson & Co, City Ventures, Wells Fargo, Amplify L.A. and others.

👾 Founders: Jean Smart (Founder & CEO)

🌍 Location: New York City, USA

🗓 Launched in: 2021

🤑 Business Model: Penelope makes money via Subscriptions, charging a $500 one-time set-up fee, along with $125 for a monthly subscription and around $8 in monthly fees (per employee).

👉 Visit Website


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  • Billion Dollar Business Ideas (#1)

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💸 Billion Dollar Business Ideas (#2)

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