Finance management FinTech Carefull collects $3.2m seed round

Carefull, a FinTech aimed at helping families and caregivers organise daily financial matters for aging loved ones, has collected $3.2m in its seed round.

NextView Ventures and Bessemer Venture Partners served as the lead investors for the round.

The FinTech is aimed at the 45 million US adults that manage and monitor daily financing for their elderly loved ones, the company claims.

Of those looking after the finances for others, 41% are required to do this after a sudden event, according to data from Merrill Lynch. This includes scams, missed bill payments or the diagnosis of memory disorders such as Alzheimer.

Carefull co-founder Todd Rovak said, “Senior caregiving is typically treated as a healthcare crisis or sometimes a coordination issue, but it’s also the largest and most unaddressed challenge in consumer financial services ?? no simple tools, intelligence, or protections.”

The mobile app integrates transaction and financial behaviour monitoring, family communication and educational content. Through its AI-powered analysis, the app can detect patterns in financial patterns of the aging family member and catch fraud or strange behaviour in their spending.

Family members can speak with each other in the app to coordinate on bills or other actions needed.

The app, which also provides a overview of the finances and bills, is available on Apple and Android devices.

Carefull CEO Max Goldman said, “The intersection of family and money inevitably leads to a series of stressful challenges. And, at some point, someone in every family will take on the role of financial caregiver.

?Carefull exists because there had to be an easier, smarter, more empathetic way to support and protect those who supported and protected us.”

Copyright ? 2021 FinTech Global

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