---
title: 'Head of Product Development at Basic Capital'
canonical: 'https://feeny.ai/job/head-of-product-development-basic-capital-new-york-qnay1zqjtkmd'
type: 'job'
last_seen: '2026-10-30'
---

# Head of Product Development at Basic Capital

- **Company:** Basic Capital
- **Location:** New York, NY
- **Employment:** full-time
- **Work type:** onsite
- **Posted:** 2026-01-29
- **Last confirmed live:** 2026-10-30
- **Apply:** https://jobs.ashbyhq.com/basiccapital/4b2178fd-cfc3-4ce3-a481-dd4d02d6c5a4

## Job description

## About Basic Capital

Basic Capital is a fintech company disrupting America’s $1T retirement industry by building the mortgage for retirement, unlocking market ownership, and making wealth accessible to every American. Our mission is to create products, platforms, and a credit marketplace that power a fundamentally new retirement system. Our founding team includes leaders from Goldman Sachs, Uber, Block, and Robinhood, and we’re backed by top investors such as Lux, BoxGroup, SVAngel, Inspired Capital, and Henry Kravis. Based in SoHo, NYC, we’re assembling a lean, high-performance team committed to reducing wealth inequality.

## About the Role

Basic Capital is building a new wealth system for everyday Americans, and we are doing it by unlocking access to capital markets in a way the world has not seen before. To do that, we need to rethink the entire retirement investing stack. Not just the UI. Not just the fees. The actual financial products themselves. The strategies, the wrappers, the incentives, the constraints, and the outcomes. This is a role for someone who wants to redesign retirement investing from first principles and ship products that feel inevitable in hindsight.

Build the future of financial services As Head of Product Development, your primary responsibility is to fundamentally rethink, rebuild, and innovate across all aspects of retirement investing. Your work will span both accumulation and de-accumulation, including launching new lifetime income products (annuities and retirement income solutions) and improving and expanding our suite of accumulation offerings across both registered and unregistered (exempted) products. This is not a role for someone who wants to tweak existing investment products. This is a role for someone who wants to create new ones, with creativity, rigor, and real-world consequences. We need people to boldly design, scope, and deliver new branded products and strategies across the retirement investing landscape. Apply creativity and rigor to the design, structure, and launch of innovative investing products.

## What You’ll Do

Own the Product Strategy for Retirement Investing

- Define the product vision for how Basic Capital builds wealth over time
- Design new investment products and strategies that align with our mission and customer needs
- Translate market structure, regulation, and customer behavior into products that work in the real world

Launch New De-Accumulation Products

- Lead the development of retirement income products, including annuities and lifetime income solutions
- Build products that help people convert savings into durable, flexible retirement outcomes
- Partner cross-functionally to bring these products from concept to launch

Expand and Improve Accumulation Offerings

- Improve and scale our suite of accumulation products across registered and unregistered (exempted) offerings
- Develop new strategies, packaging, and product structures that unlock better outcomes for customers
- Iterate on product design to improve performance, simplicity, and adoption

Build Branded Strategies and Market-Defining Products

- Create products that are not only financially sound but also clearly positioned and branded
- Design structures that can scale through distribution and capital markets
- Build a product roadmap that compounds into a durable advantage for Basic Capital

## Who You Are

You are equal parts investor, product architect, and operator. You have strong opinions about how retirement investing should work, and you have the technical depth to build the products that make it real. You have:

- Deep knowledge of investment products and market structure
- A builder mindset and an obsession with creating products that actually ship
- High standards for rigor, clarity, and customer outcomes
- Comfort operating in ambiguity with high ownership and high accountability

You want a role where you can invent products that change how people retire.

## What We’re Looking For

## Requirements

- Experience designing, structuring, and launching investment products
- Strong understanding of retirement investing across accumulation and/or de-accumulation
- Ability to operate across product, investing, legal/compliance, operations, and distribution
- Strong strategic thinking paired with execution velocity
- Comfort working in a fast-moving environment with high agency

Bonus Points

- Experience with annuities, lifetime income products, or retirement income strategy
- Familiarity with registered and unregistered (exempted) product structures
- Background in asset management, fintech investing products, or structured product development
- You have launched products that required cross-functional coordination and regulatory rigor
- You enjoy building new markets, not just participating in existing ones

## About Basic Capital

## Company Overview
- **One-liner**: Basic Capital provides a modern, technology-driven 401(k) platform that uses leverage, private credit, and a "Retirement Mortgage" to give employees more investing power.
- **Entity Type**: Private (Post-Series A)
- **Headquarters**: New York, New York, United States
- **Founded**: 2021
- **Founders**: Abdul Al-Asaad (CEO), Anjan Karanam (CTO)

## Core Business
- **Primary industry**: Financial Services (Fintech, Retirement & Wealth Management)
- **Target customers**: B2B (Employers seeking a high-quality retirement plan for their workforce) and B2C (Employees saving for retirement).
- **Mission or purpose statement**: To build a modern 401(k) that gives employees more capital to invest and build wealth, moving beyond traditional savings plans.

## Products & Services
- **Basic Capital 401(k) Platform**: A fully bundled or modular SaaS platform that handles recordkeeping, administration, and optional advisory (3(21) or 3(38)). Differentiators include real-time compliance testing, a mobile-first interface, and open architecture with 6,000+ investment options.
- **Retirement Mortgage**: A proprietary feature allowing employees to access long-term financing within their 401(k) to increase their investing power (e.g., invest up to 100% in S&P 500) with no margin calls or personal recourse. The cost of financing varies.
- **Mega Backdoor Roth**: The platform automatically maximizes employee contributions through after-tax dollars, pushing the annual deferral limit up to $72,000.
- **Compliance Monitoring**: Real-time tracking and agent-assisted compliance solutions to help fast-growing companies avoid failing annual tests.

## Market Standing
- **Valuation/Market Cap**: Not publicly disclosed.
- **Key Metric**: Total Funding: $25 Million (Series A, closed August 2025).
- **Notable Investors/Partners**: Lux Capital and Forerunner (co-led Series A); Bill Ackman (first investor in 2021).
- **Growth Signals**:
    - **Headcount Growth**: +7.5% monthly employee growth. Currently 22 employees.
    - **Recent Funding**: $25M Series A in August 2025, signaling strong investor confidence in their audacious model.
    - **Press Coverage**: Featured in Bloomberg for their unique use of leverage and private credit in retirement plans.
    - **High Engagement**: 80% of issues resolved within 24 hours; average response time of 25 minutes.

## Competitive Advantages
- **First-of-its-kind leverage**: Pioneered the "Retirement Mortgage," allowing employees to use financing for long-term investing, a feature unheard of in traditional 401(k) plans.
- **High-touch, fast support**: Average response time of 25 minutes and 80% issue resolution within 24 hours, far exceeding industry norms.
- **Real-time compliance**: Proactive, data-driven compliance testing prevents plan failure for high-growth companies.
- **Full architectural freedom**: Open architecture with 6,000+ options plus a brokerage window, combined with a mobile-first user experience designed for modern employees.
- **Product-led growth**: A slick, user-centric product designed to drive adoption without requiring a large sales force.

## Strategic Focus
- **Scaling the platform**: With the $25M Series A, Basic Capital is focused on hiring and expanding its employer base, particularly among fast-growing companies.
- **Continued innovation**: Further development of the Retirement Mortgage and private investment options to differentiate from legacy providers.
- **Building an elite team**: The company culture is explicitly designed to attract "builders" and "high-agency" individuals, emphasizing shipping products and solving hard problems.

## Why Work Here
- **Culture**: High-agency, builder-oriented, and mission-driven. The team operates with a "player-coach" model and no middle management. Core values include "Iterate to greatness," "Real artists ship," and "Stewardship."
- **Work Model**: Primarily in-office based in New York City (HQ) with a strong emphasis on in-person collaboration (likely 5 days/week given the culture).
- **Engineering Culture**: Technical team uses Java, Ruby, TypeScript, Kotlin, Python, and React. CTO Anjan Karanam is hands-on. The company describes itself as "elite problem solvers" focused on important problems.
- **Growth**: High employee growth rate suggests rapid expansion and early-career impact opportunities. The team is currently small (~22 people), so every role has outsized impact.
- **Perks & Benefits**: A top-tier 401(k) plan (Mega Backdoor Roth, Leverage) that employees can actually use; fast operational support; and a sense of building something radically new in a staid industry.

## Sources
1. [Basic Capital Website](https://basiccapital.com/)
2. [Basic Capital Careers Page](https://basiccapital.com/careers)
3. [Basic Capital LinkedIn](https://www.linkedin.com/company/basic-capital)
4. [Bloomberg - 401(k) Investing: Basic Capital Brings Leverage, Private Credit to Savers](https://www.bloomberg.com/news/articles/2025-05-12/401-k-investing-basic-capital-brings-leverage-private-credit-to-savers)
5. [Crunchbase (via LinkedIn) - Basic Capital Profile](https://www.linkedin.com/company/basic-capital)
6. [Business Wire - Basic Capital Closes $25 Million Series A](https://www.businesswire.com/news/home/20250818005007/en/Basic-Capital-Closes-25-Million-Series-A-Funding-Round-Led-by-Forerunner-and-Lux-Capital)

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