Finish-of-life planning platform, Safewill, has raised $5.5 million in what the startup is asking a Sequence A for the second time in 19 month.
The tech platform beforehand raised $3 million in a Sequence A in October 2021.
The newest spherical was led by Carthona Capital, supported by present backer Reinventure, plus Flying Fox Ventures. The brand new capital is to additional develop the enterprise, together with growth of the platform abroad.
Safewill was based in 2019 by Adam Lubofsky and Dan Bennett to digitise property planning and make it extra reasonably priced. The corporate has additionally labored to extend charitable bequests and has partnered with than 200 Australian charities.
The property planning providers provided by Safewill embrace Enduring Powers of Legal professional and Enduring Guardianship merchandise, a subscription-based digital vault the place prospects retailer essential paperwork to help Executors, an affiliate Wills and Estates regulation agency, and low-cost funeral planning providers.
Cofounder and CEO Adam Lubofsky mentioned the enterprise has grown past its authentic imaginative and prescient as a digital Will writing platform and is now utilized by greater than 100,000 folks.
“We’ve constructed a digital product that ties collectively all facets of finish of life planning – together with property planning paperwork, funeral merchandise, finish of life authorized providers, and fashionable ideas of legacy and farewell – in a single unified digital product,” he mentioned.
“With our home success, we’re now taking a look at how we are able to export our award-winning know-how abroad. We’re within the strategic phases of figuring out probably the most related markets and anticipate executing on this plan in direction of the tip of this yr.
Lubofsky mentioned presents in wills account for greater than 20% of complete nationwide charitable fundraising.
“From the day we began Safewill, we knew charities had issue in buying and monitoring presents in wills and needed to handle that drawback.,” he mentioned.
“We have now had greater than $500 million in charitable presents dedicated to Australian not-for-profits by way of our wills, which makes Safewill one of many main charitable fundraising platforms in Australia.”
Reinventure managing associate Danny Gilligan mentioned Safewill is digitising at scale a sector that till now has been largely untouched by know-how, regardless of its impression on everybody.
“It additionally simply so occurs to be one of many uncommon alternatives that intersects the power to have an effect on significant change on the earth and a fabric untapped market,” he mentioned.