Paperwork secures seed funding to improve the financial wellbeing of American families at all life stages

OAKLAND, Calif., Feb. 25, 2022 /PRNewswire/ -- The veteran team behind Paperwork, the financial wellness solution that transforms the way people organize and manage their financial lives, announced today that 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.

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.

The timing is ideal to take advantage of consumers' intensified awareness and interest in financial wellness, says Kevin Cimring, Founder & CEO of Paperwork. "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," he said. "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."

Alex Soffe, partner at Kickstart Fund who led the investment, was impressed with the team's experience as well as the breadth of their vision. "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."

"The peace of mind Paperwork offers clients is invaluable", said Ryan Gilbert founding partner at Launchpad Capital who reinvested after leading the company's pre-seed. "Paperwork essentially provides a blueprint for financial stability and wellbeing in an easy-to-use mobile app. A no-brainer for every busy family."

About Paperwork

Paperwork is led by a team of fintech veterans on a mission to help people make smarter money choices, plan better, and protect their families. Financial literacy is at an all-time low in the U.S., costing families billions of dollars of their hard-earned money. Paperwork's unique mobile-first approach to financial wellbeing makes it easier for people to take control of their financial lives and secure a better financial future. For more information, visit www.paperwork.co or email us at [email protected].

About Kickstart Fund

Kickstart Fund is a seed-stage venture capital firm based in Salt Lake City, UT. Kickstart's mission is to help build great companies in the Wild West by backing the boldest entrepreneurs with capital, community, and expertise for the journey. Since raising its first fund in 2008, Kickstart has invested in more than 100 companies. For more information, visit www.kickstartfund.com.

About Launchpad Capital

Launchpad Capital invests in multi-stage fintech opportunities in the US and internationally.  For more information, visit www.launchpad.vc.

About AARP

AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation's largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org, www.aarp.org/espanol or follow @AARP, @AARPenEspanol and @AARPadvocates, @AliadosAdelante on social media.

About StartUp Mavericks

SUM is an early-stage venture capital firm focused on investing in resilient founders building the future of financial and real estate technology. For more information, visit www.sum.vc.

SOURCE Paperwork

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