Carefull, a financial safety platform focused on protecting aging adults from financial fraud and exploitation, announced it has secured growth capital financing from CIBC Innovation Banking. This funding aims to accelerate Carefull’s expansion, enabling it to deliver its financial protection solution to more families, financial institutions, and wealth managers.

Carefull’s AI-powered platform was developed in response to the increasing threat of financial fraud targeting older adults. The technology identifies suspicious behaviors such as romance scams, fraudulent charities, unusual transactions, financial errors, and early indicators of cognitive decline. By proactively monitoring financial activity, Carefull provides real-time alerts and offers expert-driven educational resources designed to prevent minor issues from escalating into significant financial losses.

“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 financing follows Carefull’s period of consistent growth, marked by expanding partnerships across the financial services industry with banks, credit unions, and wealth advisors. By integrating its protective measures into the financial ecosystem, Carefull supports older adults while also enabling financial institutions to enhance client trust, offer differentiated experiences, and cultivate multi-generational relationships.

CIBC Innovation Banking provides specialized financing to growth-stage technology and life science companies across North America. The firm has 25 years of experience in this sector, managing over $11 billion in funds and having supported more than 700 venture and private equity-backed businesses over the past six and a half years. It operates from 14 global locations, including San Francisco, New York, Toronto, and London.

“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,” stated Brittany Blanco, Director, CIBC Innovation Banking. “We are thrilled to provide financing support to help the company accelerate delivery to more individuals.”