(Untitled)

Lauren Kolodny, partner at Acrew Capital, has built a reputation for backing technologies aimed at broadening financial access. In 2016, when Chime—a neobank serving the working class—struggled for support, Kolodny was the sole venture capitalist among 100 who agreed to invest, leading a critical $9 million Series A extension. That decision paid off as Chime recently went public with a $14.5 billion valuation. Now, Kolodny is focusing her attention on a fresh challenge: using AI to simplify and democratize estate settlement for everyday families.

Investing in AI-powered Estate Management: The Birth of Alix

Kolodny’s recent lead on a $20 million Series A into Alix signals a strategic bet on artificial intelligence in financial administration. Alix, founded by Alexandra Mysoor, emerged from a deeply personal experience—after helping a friend settle a family estate, Mysoor discovered just how burdensome and lengthy the process could be. Over 900 hours and 18 months were spent on paperwork, asset transfers, closing accounts, and more. The ordeal highlighted the lack of automation and the inefficiency plaguing trust administration.

Mysoor realized modern AI could shoulder much of this heavy lifting. Alix now leverages AI to extract and organize data from documents, complete complex forms, and communicate with financial institutions—dramatically reducing the manual work traditionally required from family members or expensive attorneys.

Chime’s Impact and Kolodny’s Investing Lens

Kolodny became widely known in venture capital after her early support of Chime. Consistently seeking startups that empower consumers, her three consecutive appearances on the Forbes Midas List affirm her reputation. Kolodny sees the opportunity in startups that remove friction from financial admin, allowing users to maximize their resources, not just their wealth.

The Estate Settlement Challenge: An Untapped Market

With trillions expected to transfer from older to younger generations in the coming decades, estate settlement is poised for transformation. Kolodny observed that, despite the scale of the opportunity, the process is largely archaic—paper-based and heavy on project management. While services like Empathy address account closures after a loss, few offer comprehensive end-to-end estate administration. Kolodny describes this as an “aha” moment—the space is overdue for digital disruption, and AI is the enabler.

Fee Structure, Accessibility, and Alix’s Market Approach

Alix’s service is priced at 1% of the estate’s value, with inheritances below $1 million costing $9,000–$12,000, depending on complexity. This approach aims to make professional-grade estate management accessible to a broader range of families, rather than only the ultra-wealthy, who have historically been able to afford white-glove services.

DeepFounder Analysis

Why it matters

AI-driven automation in financial administration signals a pivotal shift. For startups and founders, this shows how longstanding, underserved pain points in legacy financial sectors—particularly those with high friction like estate settlements—are ripe for reinvention. We’re seeing new layers of accessibility in services previously burdened by cost, legal complexity, and bureaucracy. The trend also aligns with demographic shifts as younger generations inherit more assets and expect seamless, digital experiences.

Risks & opportunities

Automating estate processing opens opportunities to create comprehensive fintech platforms for life events—not just inheritance, but also divorce, medical settlements, and more. However, regulatory risk looms large: mishandling sensitive legal or financial data, or failing to account for regional compliance variations, could damage trust or prompt legal backlash. Companies able to blend automation with robust compliance, privacy, and user support will have an edge. Notably, early movers who can position as the trusted platform could achieve high defensibility.

Startup idea or application

Inspired by Alix, a promising startup avenue would be a SaaS platform for wealth managers, attorneys, and families enabling collaborative estate and trust settlement. Think "TurboTax for inheritance." Key features: AI-driven document parsing, beneficiary workflows, digital vaults for asset tracking, and compliance modules for cross-border inheritance. Add-ons could address related events (e.g., insurance claims, property transfers). Integration with digital wills and power of attorney services could round out the ecosystem.

AI Fintech Estate Planning Startups Automation

Visit Deep Founder to learn how to start your own startup, validate your idea, and build it from scratch.

📚 Read more articles in our Deep Founder blog.

Also check out our feature on PayPal’s global wallet strategy for cross-border transactions—another great example of fintech streamlining traditionally complex processes.