Carefull, a FinTech company specialising in financial safety for ageing adults, has received a fresh round of growth capital from CIBC Innovation Banking.
The funding, the amount of which was not disclosed, comes from CIBC Innovation Banking, known for backing growth-stage technology and life sciences companies across North America. The investment will support Carefull’s continued expansion within the financial services sector.
Founded to address the increasing threat of financial fraud against older adults, Carefull offers an AI-powered platform that monitors financial activity to detect warning signs such as romance scams, fraudulent charities, and unusual transactions. It also flags money mistakes and early indicators of cognitive decline, offering real-time alerts and educational content to help prevent serious financial harm.
The company plans to use the new capital to accelerate its reach and deepen its impact, by expanding access to its platform across more families, banks, credit unions, and wealth managers. This growth will also enhance its ability to support financial caregivers and institutions in providing targeted protection for older clients.
Carefull co-founder Todd Rovak said, “We are excited to work with CIBC Innovation Banking as we continue developing innovative solutions to meet the growing needs of aging adults and financial caregivers. Having access to additional funding allows us to deepen our impact and extend our reach, ensuring more older adults and their loved ones are protected from financial risks.”
CIBC Innovation Banking director Brittany Blanco added, “Carefull’s mission to help families and loved ones avoid financial missteps is deeply aligned with what CIBC Innovation Banking values in the companies we work with. We are thrilled to provide financing support to help the company accelerate delivery to more individuals.”
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