CIBC Innovation Banking is pleased to announce a growth capital financing to Carefull, a leading financial safety platform focused on protecting aging adults from financial fraud and exploitation. This financing will further accelerate the company’s expansion, bringing its innovative financial protection solution to more families, financial institutions, and wealth managers.
Carefull’s AI-powered platform was designed in direct response to the growing threat of financial fraud targeting aging adults. Carefull recognizes suspicious behaviors, from romance scams and fake charities to unusual transactions, money mistakes, and early warning signs of cognitive decline. By proactively scanning financial activity, Carefull provides real-time alerts and expert-driven educational resources that help prevent small issues from becoming devastating financial losses.
Financial Technology Insights: Vantage West Credit Union Launches BNPL to Expand Financial Inclusion
“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,” said Todd Rovak, Co-Founder of Carefull. “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.”
This opportunity for funding comes as Carefull continues its strong growth trajectory, expanding its partnerships across the financial services industry with banks, credit unions, and wealth advisors. By seamlessly integrating its protections into the financial ecosystem, Carefull not only protects older adults but also empowers financial institutions to enhance client trust, deliver differentiated experiences, and deepen multi-generational relationships.
Financial Technology Insights: Rapid Finance Releases Breakthrough AI Tool to Slash Loan Application Processing Times
“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,” said Brittany Blanco, Director, CIBC Innovation Banking. “We are thrilled to provide financing support to help the company accelerate delivery to more individuals.”
Financial Technology Insights: KuCoin Pay and Cryptorefills Partner to Unlock Global Travel with Crypto
Source: Businesswire
To share your insights with the FinTech Newsroom, please write to us at sudipto@intentamplify.com
