NEW YORK--(BUSINESS WIRE)--Today, Kindur announced the close of a $9MM Series A, including Anthemis, Point72 Ventures and Clocktower, to support its efforts to provide baby boomers with a comprehensive suite of modern retirement services. Led by founder & CEO Rhian Horgan, Kindur is a new-kind of financial services company designed to help baby boomers navigate their complex financial lives. Through straightforward digital advice and its signature retirement paycheck, Kindur makes sense of savings, insurance, social security and healthcare costs so users can focus on enjoying a hard-earned retirement with confidence.
"Throughout our careers, most of us get a paycheck, which we use to organize our financial lives. In retirement it stops, and things get complicated, presenting an incredible opportunity for innovation. Kindur was founded to build a better path for modern retirees—simplify their lives, put their money to work with smart technology and give them the confidence they need to retire fearlessly. The close of our Series A marks an exciting new chapter as Kindur moves towards full-availability in early 2019," said Kindur CEO Rhian Horgan.
While many retirees have successfully built a nest egg, in the next phase of their lives the complexity of managing the various savings accounts, investment funds, healthcare insurance products and government benefits they have is daunting. Healthcare expenses alone are expected to cost the average retired couple upwards of $280,000, and there is a growing crisis around the additional costs of long term care that looms 20 years or more post retirement.
“The current system for retiring baby boomers is completely broken. It’s disjointed, confusing and in the worst cases intentionally misleading. Their parents’ retirement was drastically different—they didn’t have to plan for 30 years of expenses and ballooning healthcare costs,” continues Horgan.
Kindur is offering a better approach that cuts across existing industry silos to navigate these complex products and decisions. By delivering solutions specific to those in retirement or nearing retirement, Kindur wants to ensure baby boomers who’ve worked hard throughout their careers are prepared for the next phase of their lives, instead of worrying about things like market volatility, healthcare costs or inflation.
With a deeply experienced team from financial institutions including JPMorgan, Fidelity and Capital One, and consumer tech brands including Earnest and Seamless, Kindur has brought together decades of expertise to build a consumer-first solution that’s more accessible than ever.
“Kindur is uniquely positioned to solve the complexities of modern retirement. Kindur’s transformative team brings relentless focus on customer simplicity and deep domain experience to wholly re-imagine retirement advice. With more retired and near-retired Americans than ever before, the market opportunity for Kindur is enormous,” said Sean Park, Founder and CEO of Anthemis.
“Every day, 10,000 baby boomers retire within an increasingly complicated financial landscape. Meanwhile, a third of all Americans enter retirement without considering their long-term needs and goals, and 6 in 10 are seeking to improve their approach to financial planning. We’re excited to see Kindur’s innovative, first-of-its-kind platform simplify and evolve the way baby boomers navigate modern retirement,” said Pete Casella, Partner, Point72 Ventures.
Kindur is building a new-kind of financial services company to empower baby boomers to embrace modern retirement. Grounded in decades of experience leading financial and tech initiatives at major banks and start-ups, Kindur will provide straightforward digital advice and retirement tools to a rapidly growing population of retirees. By making sense of savings, insurance, social security and healthcare costs, users can focus on enjoying a hard-earned retirement with confidence. Kindur is headquartered in New York City. For additional information, please visit www.kindur.com.