Paperwork secures $2.5m seed funding to improve financial wellbeing of American families at all life stages

Paperwork secures $2.5m seed funding to improve financial wellbeing of American families at all life stages

Published: 28-02-2022 13:51:00 | By: Pie Kamau | hits: 4713 | Tags:

Paperwork, the financial wellness solution that transforms the way people organize and manage their financial lives, announced it has closed $2.5 million in seed funding in a raise led by Kickstart Fund with participation from Launchpad Capital, AARP, StartUp Mavericks, and a host of influential angel investors.

Kevin Cimring, Founder and CEO, Paperwork: "The timing is ideal to take advantage of consumers' intensified awareness and interest in financial wellness. The pandemic has dramatically heightened consumer focus on financial wellbeing and resilience, from the importance of having sufficient emergency savings to adequate insurance coverage and proper retirement and estate planning. The flipside is that financial literacy in the U.S. is at an all-time low. Paperwork bridges that gap with actionable insights that help families improve all the critical areas of their financial lives."

The company's proprietary financial wellness platform automatically organizes and analyzes financial accounts and important documents, such as wills, insurance policies and other financial information that clients upload using Paperwork's mobile app. The app then provides personalized insights and suggestions that help them make smarter money choices, plan for the future and protect the financial wellbeing of their families. The funds will be used to scale the company's continued development of its comprehensive financial wellness platform while also growing distribution opportunities and partnerships with financial service providers.

Alex Soffe, Partner, Kickstart Fund: "We backed Paperwork because we believe in the team, its mission and the opportunities for growth. The founders are fintech veterans with previous exits, and their platform is attractive not only for consumers, but also for enterprise partners looking to improve engagement with their clients and offer added value. The opportunities for Paperwork are significant."

Ryan Gilbert, Founding Partner, Launchpad Capital: "The peace of mind Paperwork offers clients is invaluable. Paperwork essentially provides a blueprint for financial stability and wellbeing in an easy-to-use mobile app. A no-brainer for every busy family."