Love at first site: Startups bring financial transparency to couples

While Gen Z might have earned itself a bad reputation for slacking in the workplace, today’s youths seem to have a solid grasp when it comes to their personal finances.

They’re also willing to stare some previously taboo topics in the face, with 47% of engaged or married millennials and 41% of Gen Zers saying they’ve signed prenups.

For tech-savvy generations raised on the internet, new startups are emerging to bring the prenup process online and make it easier:

• HelloPrenup, which first pitched its online prenup platform on “Shark Tank,” grew sales 14k% over three years to $3m and a $22m valuation. The service, which starts at $600, lets couples create notarized, state-specific prenups online and consult lawyers.
• First, which currently only serves customers in California, starts at ~$2.6k and includes a custom agreement and independent counsel for both parties.

Beyond money, the services can account for everything couples want to protect, including furry friends, a growing trend.

Investing in the future

It’s not just a prenup that young couples want assistance with — they’re looking for easier online solutions at all stages of a relationship.

• Divorce.com offers a $2k “fully guided” divorce, with personalized documentation, court filing, and four mediation sessions.

• Plenty is a membership service that lets couples share information on their investments, financial goals, and savings progress.
• Honeydue is a free mobile app that helps couples track bank accounts, coordinate bills, and chat about their finances.

What’s causing the push for financial transparency?

Americans are waiting longer to get married and have more assets to protect by the time they do; many young people who witnessed their parents get divorced may be proceeding more carefully; and younger generations are more transparent about finances.