In India, nearly Rs 2 lakh crore lies unclaimed in Employee Provident Funds (EPF), insurance, bank deposits, and other assets. This is money earned hard over the years, but many people are simply unaware of the funds they are entitled to or unsure how to claim them. For families navigating grief, bureaucracy, or financial stress, this money remains painfully out of reach as well.
Kustodian.life is on a mission to change this. Founded by Harsh Jain and Kunal Kabra in 2023, the fintech startup is reimagining how Indians access, recover, and secure their financial future—with empathy at the core and AI as the enabler.
“With job changes, incomplete documentation, or missing nominee details, families often face uncertainty. Some live far from service centres, while others struggle with language or paperwork requirements. It’s not that systems don’t exist—it’s that navigating them during difficult times feels overwhelming, and many give up trying,” says Jain.
How it all began
Jain, an alumnus of ISB Hyderabad, has spent over a decade across Samsung R&D, YourStory, and UrbanPiper, and has a strong background in product development. His diverse work experience helped him understand how design and empathy could simplify even the most complex systems.
Kunal Kabra’s journey was shaped by something deeply personal. After losing a close friend to a heart attack, he spent four years helping the bereaved family recover their money from various departments.
What seemed simple quickly became a long, exhausting process. He had to coordinate with multiple departments—EPF offices for retirement funds, banks for fixed deposits, PPF accounts, and even demat investments. At every step, paperwork gaps and unclear procedures slowed progress.
There were setbacks too. In one case, Kunal prematurely closed a bank account, only to realise that pending transactions were stuck and funds inaccessible. It took weeks of back-and-forth to resolve the issue. He also had to explain forms in local languages and navigate offices where no one offered guidance.
Through it all, Kunal saw how grief, confusion, and bureaucracy left families stranded. His experience became the driving force behind building a more supportive, empathetic solution.
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As the ‘finance person’ in his circles, he realised how nearly impossible the process would have been for the family without his support. This left him wondering what would happen to his own family if something ever happened to him. He was determined to fix the gaps.
When Jain and Kabra came together, they shared the same frustration. They realised that India doesn’t lack wealth, but lacks access to wealth. This realisation became the foundation of Kustodian.
A product built with empathy and AI
Kustodian.Life positions itself as a financial companion, designed to respond to pain points such as confusion, heartbreak, and bureaucratic dead-end.
The online platform guides families through EPF, pension, and EDLI (Employee’s Deposit Linked Insurance) claims, streamlining recovery journeys with transparency and faster outcomes. Its AI-powered workflow untangles complex processes for PPF, bank deposits, insurance, and shares, cutting timelines from months to weeks.
A consolidated dashboard gives users real-time visibility of their claims with live updates and audit trails, while smart analytics detects dormant or missing assets and nudges families to act on time.
Estate planning tools—from digital roadmaps to will-drafting—help protect wealth for the next generation.
The platform uses AI to guide users, fill forms, verify data, and prioritise cases without manual intervention at every step. It integrates services like insurance, loans, and instant payouts directly into the claim process.
If a family’s claim is delayed, they can access emergency funds or bridge loans through the platform—without going to external providers.
In essence, the platform offers a seamless system that combines smart workflows with instant financial tools, ensuring families aren’t left stranded without support during the claim process.
Underpinning all this is human-centric support, where real experts stand beside customers in moments of grief or uncertainty.
“When families are navigating loss, paperwork and bureaucracy can feel impossible. That’s why our approach goes beyond processing claims—we provide human-centric support, walking with people patiently, and ensuring they find trust, dignity, and reassurance in the process,” says Jain.
The company claims customer effort has been reduced from 100 hours to just 2, while claims are settled 50% faster than through traditional routes.
In its first year, Kustodian.life has already helped more than 1,200 families; 500 active cases are currently in progress. The platform has facilitated the recovery of over Rs 20 crore across EPF and related claims.
The bootstrapped startup’s revenue has grown 3.5x from Rs 2.85 lakh in January to Rs 10 lakh in June. It is now operating at an annualised run rate of about Rs 1.2 crore, with a projection to touch Rs 3 crore by December 2025.
“What makes this growth even more striking is that more than 90% of new customers come through word-of-mouth, validated by strong net promoter score, Google reviews, and heartfelt testimonials,” says Jain.
Business model and way ahead
The company primarily operates on a performance-based revenue system, charging customers only when claims are successfully recovered.
For more complex cases that involve heavy documentation or institution-specific processes, a flat fee model is applied—with full transparency and a 100% money-back guarantee if claims are not resolved, says Jain. This trust-first model has helped the company sustain profitability while scaling impact, he adds.
The company has forged over ten partnerships with employers, wealth managers, and fintech firms.
Partnerships include product integrations with Google India, Mobikwik, and BharatSure.
The startup has been accepted into incubation programmes by InFINity (by PayU and AWS) and Conquest (BITS Pilani).
The company is preparing to raise capital to supercharge its AI stack, deepen automation, and expand nationwide. A key focus will be scaling beyond metros into Tier II and III cities and rural India.
Kustodian aims to unlock Rs 1,000 crore in assets and serve over 2 lakh families by 2027. Its future roadmap expands far beyond EPF and PPF into multi-asset recovery, succession planning, and digital asset management—all powered by AI-driven automation and embedded financial services for liquidity.
Edited by Swetha Kannan
