Our investment in Snug
We are excited to announce that Matchstick Ventures Fund III has completed an investment in Snug. Snug protects families and assets through digital estate planning, offering unlimited trusts, wills, and guardianships for an annual subscription.
Background: A digitally-native generation is entering a period where they are building families and accruing assets, but 64 percent of Americans aged 30-49 don’t have a will, and 43 percent of college graduates don’t have a will. That’s millions of people, with an untold number of assets, as well as children and families, left unsecured.
While wills are generally considered one of the easiest documents to procure, they require people to find and secure a lawyer, take time to consider options, and cost hundreds if not thousands of dollars. This also doesn’t account for the fact that these documents need to be updated regularly, costing even more time and money.
Still, most people know they should have these documents in place. The COVID pandemic caused many people to consider their mortality more directly, and some state legislatures have also relaxed rules surrounding these documents and their requirements.
Company Specifics: Snug is estate-planning for the digital age, offering people and families an online option to create trusts, wills, and guardianships, with unlimited documents and updates for a low, annual subscription. Unlike current options, Snug doesn’t take a document-centric view of estate planning, and works with their customers to determine goals and meet them where they are. Because they establish a long-term relationship with their customers, documents can be created, changed, and updated as life evolves.
Snug offers secure, smart, and convenient access to estate planning. With reasonable pricing, they reduce friction while also establishing lifetime customers. Over time, their long-term relationships will allow them to offer high-value products specific to each customer and further build trust. Snug anticipates they will one day be a ubiquitous gift on every wedding and baby registry, or offered as an added benefit to the services of a realtor or financial planner.
We met Snug’s team through the Boulder startup community, and Ryan quickly connected with them after recently going through the estate planning process himself. He saw first-hand how archaic the process was without any innovation. We are excited about this opportunity to work with a great team to develop a product for the next generation.
Learn more at:https://www.getsnug.com/