Provides a dynamic digital solution for estate planning to be offered as a social benefit; Funding round led by Anthos Capital
TEMPE, Arizona., March 22, 2022 /PRNewswire/ — Richness (wealth.com), a comprehensive digital estate planning platform co-founded by Rei Carvalho, the former founder and CEO of Emailage (acquired by LexisNexis®), announced a $16 million seed funding round, led by Anthos Capital, and followed by Bela Juju Ventures.
Designed and developed by experts in trust and estate law, personal financial management and data security, Wealth brings much-needed innovation to the outdated, complex and often inaccessible estate planning process. Enhanced by a robust asset aggregation platform, intuitive workflows and thought leadership content, Wealth offers the only comprehensive estate planning solution on the market.
“Our team commissioned one of the largest estate planning studies, surveying 10,000 American adults between the ages of 30 and 55. We found that only 32% of respondents had a will in place and most said that they knew little or nothing about estate planning,” said Raphael Loureiro, co-founder and CEO of Wealth. “We’re changing that by providing the most comprehensive and accessible platform for everyone with a focus on education. Everyone needs a plan, they might not know it yet.”
The platform enables members to create, manage and view their estate plans through an integrated ecosystem of proprietary legal documents, third-party APIs and a bank-level encrypted digital vault.
“By focusing on technology and strategic partnerships, we’ve built an ecosystem that challenges the archaic estate planning industry to progress beyond 3-ring binders and into Web3,” Carvalho said. “Life isn’t static, and neither is estate planning. Caring for your family and having a plan for your assets is lifelong work that requires a dynamic ecosystem to live, breathe, and grow with your life.”
Estate planning has always been considered confusing and exclusive to the ultra-rich. “Heritage democratizes elements of personal finance that are important to consumers. We are proud to once again invest behind this incredible team, after working successfully together at Emailage, and are thrilled to help support their mission,” said declared Paul Farremanaging partner at Anthos.
The company aims to make estate planning more broadly accessible to the American workforce by initially offering its platform to HR teams and organizations looking to provide a meaningful financial wellness benefit to their employees and members. Wealth’s State of Estate Planning survey confirms the need, as only 13% of respondents currently have access to estate planning services as part of their benefits, but more than 70% said they would put a plan in place if proposed.
Wealth is a comprehensive estate planning platform that lets people create, manage and view their plans digitally. Creating an estate plan with Wealth gives your loved ones a holistic view of all your assets, viewed and stored securely in one place. Because life is unpredictable, Wealth gives you easy access to your plan at any time and offers guidance on keeping it current and valid. And if the unthinkable happens, your trusted beneficiaries have emergency access to your plan. Wealth is available to corporations as a social benefit, allowing employers to provide their workforce with an opportunity for meaningful financial well-being.
Wealth is headquartered in Tempe, AZ. For more details visit wealth.com.