![]() ![]() It also competes with financial advisor and wealth management companies, like Personal Capital. But these services don’t offer the same extensive net worth tracking and have a different focus. Kubera to some extent competes with services like Mint, YNAB and other online budgeting tools. If they don’t respond after several reminders, Kubera will then reach out to your backup contact, a “Trusted Angel.” The service sends an email with all the information you’ve provided in a downloadable format to your beneficiary. If you don’t respond to Kubera’s attempts to reach you, it will then try to reach your beneficiary by way of email and text, if provided. Its “life beat” check will track if you’ve been inactive for a certain number of days (specified by you during setup) and try to reach you. Once the initial entry has been done, Kubera will periodically remind you to update asset values and check in. The basic service is free to use if you don’t want to automatically update your asset values. The company’s business model is a subscription service, which allows it to generate revenue without having to share data with a third-party or advertiser. The service also uses the open standard AES-256 encryption algorithm to encrypt user data, requires HTTPS on all web pages, uses HSTS to require browsers use only secure connections, and supports 2-step verification through Google Sign-in with other 2-step options launching soon. This also allows it to support connections to over 10,000 banks across the world. The service uses trusted financial data aggregation services like Plaid and Yodlee to make the connections, which means it has “read-only” access to your financial data - Kubera cannot make transactions on your behalf. You can either opt to update the values in the table as you go, or you can connect assets to your online accounts to update their value automatically. To use the service, you begin by listing your assets in a simple table, then add details like cost, value, or the documents associated with them, if available. Kubera is launching today as a custom-built solution for the task of listing your assets, both traditional and non-traditional alike. Also joining Kubera is the former Head of Product & Design from Newton Mail at CloudMagic, Umesh Gopinath. To do so, he reached out to former colleague Manoj Marathayil, the founding engineer at Nadhani’s two prior companies, CloudMagic (Newton) and Webyog, which exited to IDERA in 2018. That, along with feedback from friends who said they were also stuck using spreadsheets for this task, prompted the founder to create his own solution with Kubera. More importantly, he didn’t want to share access to his personal net worth data and accounts unless it was absolutely necessary.Įxisting solutions didn’t meet Nadhani’s needs, he said, as they used outdated technology, lacked the features he wanted, or used users’ data to make budgeting or investment recommendations. Plus, he wanted a few more features that a simple spreadsheet could provide - like the ability to automatically update the value of the assets, similar to Intuit’s Mint, and basic reporting. Nadhani realized he also wanted to list other assets like crypto investments, collectibles, precious metals, private and foreign investments, trademarks and other digital assets, as well as debts owed him - like loans he had made to family and friends. ![]() The task was fairly difficult, as it turned out, as that list now included more than just real estate, stocks and bonds, retirement accounts, and insurance. After coming home, the first thing he did was to start putting together a list of all his assets to share with his wife in the event of his death. While swimming in Costa Rica, he was caught in a riptide and had to be rescued. The founder was inspired to create Kubera - a reference to the Indian “lord of wealth” - due to a traumatic personal experience. The service aims to offer an alternative to using a spreadsheet to keep track of your assets, investments, cryptocurrencies, debts, insurance, and other important documents that would need to be transferred to a loved one in the event of your death. ![]() Serial entrepreneur Rohit Nadhani, who last sold his Newton email app to Essential in 2018- an app so popular it’s been saved from shutting down multiple times - is today launching a new startup, Kubera. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |