Carefull, a NYC-based provider of an AI-powered financial safety platform, raised $16.5M in Series A funding.
The round, which brought the total amount to $19.7M, was led by Fin Capital with participation from Bessemer Venture Partners, TTV Capital, Commerce Ventures, Montage Ventures, and Alloy Labs.
The company intends to use the funds to scale onboarding and support for new partners, enhance R&D efforts aimed at protecting older adults, and build capacity to meet new state regulations that require more protections for aging Americans.
Led by Todd Rovak and Max Goldman, Carefull provides an AI-powered financial safety platform that helps banks and wealth advisors protect customers aged 55+ from financial threats, retain assets and deposits for longer, and bridge to the ahead of wealth transfer. Its AI-powered platform actively scans all customer account types for over 50 financial and behavioral issues to aging by detecting unusual activity, suspicious patterns, and even bigger problems like financial exploitation by a loved one or signs of cognitive decline.
The system also integrates identity, credit and home title monitoring; $1M in identity theft insurance; a password and document vault; and a smarter Trusted Contacts system for banks to gain “share of family” in addition to share of wallet.
Over the past year, Carefull has rapidly expanded its footprint to include more than 35 financial institutions and advisor groups.
FinSMEs
11/10/2023