Sava has emerged from stealth with $10 million in funding and launched Sava Trust Company, an independent Nevada-chartered corporate fiduciary built around AI-enabled trust administration. The financing was led by Gradient Ventures, with participation from Y Combinator, SV Angel, Instacart co-founder Max Mullen, Orange Collective, and SurgePoint Capital.
Other strategic investors include Gusto co-founder Tomer London and former McKinsey Head of Private Wealth Eleonora Sharef.
Sava was founded by Nimit Maru and Rush Sadiwala to modernize the process of establishing, funding, and administering trusts.
Its subsidiary, Sava Trust Company, provides administrative trustee services covering ongoing compliance, reporting, distributions, and other functions across the life of a trust while allowing clients to retain their existing attorneys and financial advisors.
The company is targeting the more than $6.5 trillion U.S. trust and estate industry.
Sava combines a regulated fiduciary business with AI agents and human trust officers. Its technology is designed to automate workflows including onboarding, document extraction, know-your-customer and compliance checks, custodian data synchronization, principal and income accounting, and distributions.
Human trust officers review and approve work and remain responsible for fiduciary decisions carried out under trust documents.
Sava said it is targeting onboarding times measured in days instead of weeks or months and plans to offer centralized visibility into trust formation, funding, and administration for clients, attorneys, and advisors.
Customers pay a flat annual fee for each trust.
The Nevada charter allows Sava Trust Company to serve clients nationwide. The company is also developing APIs that could allow fintech platforms and other financial services providers to embed trust capabilities directly into their products.
KEY QUOTES:
“Trusts are powerful tools for protecting and transferring wealth, and we see an enormous opportunity to make them more accessible.”
Nimit Maru, Co-Founder And CEO Of Sava
“With this funding, we’re investing in our technology and infrastructure to deliver a world-class experience while bringing down costs and making these instruments available to far more people.”
Nimit Maru, Co-Founder And CEO Of Sava
“When we first met the team at Sava, they already had a clear vision for how to automate the legal and financial components of this multi-trillion-dollar industry.”
Darian Shirazi, General Partner At Gradient Ventures
