AI-driven Trusty Secures $1 Million for Modernizing Traditional Estate Planning Methods
In a bid to modernize estate planning and bridge the gap left by traditional methods, Toronto-based startup Trusty has recently secured $1 million in pre-seed funding [1]. Founded by Randy Frisch, the former co-founder of Uberflip, Trusty is an AI-powered platform designed to help families manage, track, assign heirs, and preserve their legacy across generations [2].
The funding will be used to accelerate product development and commercial expansion across North America. Trusty's vision is to become a trusted platform for sharing wishes, not just wealth, but also meaning [3].
Frisch's inspiration for Trusty stemmed from personal experiences. After organizing a drawer of valuables and documents the day after leaving his last startup, he was struck by the emotional and logistical challenges of estate planning [4]. This experience was further highlighted when his 104-year-old grandmother passed away, leaving family members unsure of who should get what [4].
Trusty aims to digitize and modernize overlooked pieces like jewelry, art, heirlooms, and family boats, making it easier for families to track their personal items and wealth [3]. The platform offers an AI-powered platform for families to catalog personal assets, document intentions, and reduce estate conflict [5].
One of Trusty's early partners is Purpose Unlimited, the financial services firm founded by Som Seif, which plans to distribute Trusty through its advisor network [2]. The company is also in talks with banks, insurers, and estate professionals, and has begun pilots with wealth teams [6].
The Trusty app is priced at a $199 one-time fee and is available on the Apple App Store and Google Play [7]. Users can snap a photo of an item, log its details, and assign it to a loved one, optionally attaching a personal video message using Trusty's platform [1].
The app also includes an in-app assistant, Max, which uses AI to summarize dense legal documents and answer natural-language questions [5]. This feature aims to simplify the complex estate planning process and provide emotional support.
Alex Baker, Managing Partner at Relay Ventures, expressed confidence in Frisch's leadership and product intuition, while Aaron Bast, General Partner at Graphite Ventures, described Trusty as the connective tissue families and advisors have long needed [1]. Mistral Venture Partners and strategic angels also participated in the funding round [2].
Trusty's long-term plans include making the app free to consumers through partnerships and embedded services [8]. The company's vision is to become a trusted platform for sharing wishes, not just wealth, but also meaning, facilitating a smoother and more connected legacy planning experience.
- The funding secured by Trusty will be utilized to speed up product development and expand the platform commercially across North America.
- Trusty's vision is to become a trusted platform not only for managing and preserving wealth across generations, but also for sharing personal intentions and fostering emotional connections.
- Purpose Unlimited, a financial services firm, is one of Trusty's early partners, and plans to distribute the AI-powered estate planning platform through its advisor network.
