Carefull - AlleyWatch alleywatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from alleywatch.com Daily Mail and Mail on Sunday newspapers.
Carefull, which enlists advisors in the circle of care, launches with $3.2 million in seed funding.
A financial technology startup with the mission of helping family members, caregivers and trusted advisors organize and protect the financial lives of aging loved ones announced its formal launch this week along with an initial seed funding round of $3.2 million.
Called Carefull, the mobile application and one with financial advisors in mind from the start enables a circle of caregivers to connect, communicate and jointly monitor a loved one’s finances.
“Advisors are really important stakeholders here,” said Carefull co-founder Todd Rovak. They make up a key component of the U.S. population of caregivers, which is currently estimated to number more than 45 million adults based on analysis of data from surveys and research published by AARP and Merrill Lynch.
Share this article
NEW YORK, Feb. 17, 2021 /PRNewswire/ Today, financial technology startup
Carefulllaunches a new platform to help family members and caregivers organize and protect daily financial matters for aging loved ones. Carefull looks to bring simplicity and intelligence to the emerging space of financial caregiving, and has raised $3.2M in seed funding led by NextView Ventures and Bessemer Venture Partners.
Today, over 45 million U.S. adults are responsible for managing an aging parent or loved one s finances. According to a study from Merrill Lynch, 41% are called to this work due to a sudden event, like a scam, missed bill payment, or, in many cases, the diagnosis of a memory disorder, such as Alzheimer s disease. Financial caregiving can be a decades-long journey, and includes setting budgets, paying bills, catching errors and fraud, and coordinating family support, usually without any formal training and often from far away.