An estate planning platform that has digitised writing a will has raised $17 million in a Series B.
The round for Safewill was co-led by King River Capital and existing backer Reinventure. Also doubling down were Carthona Capital and Flying Fox Ventures. Safewill previously raised a $5.5 million Series A extension in May 2023 topping up the initial $3 million Series A in October 2021.
Also joining the cap table for the Series B were Zip’s Larry Diamond, Betashares cofounders Alex Vynokur and Ilan Israelstam (Founders of Betashares), FlareHR chair Geoff Lloyd and Chris Cuffe.
Safewill was founded in 2019 by Adam Lubofsky and Dan Bennett to digitise estate planning. Over the past five years more than 150,000 Australians have created a will using the platform. Around half the population don’t have a will.
Lubofsky said the funding will see the platform expand beyond digital wills.
“We’re moving beyond estate planning towards estate administration and planning for what the future of that space will look like,” he said.
“This new funding aligns perfectly with our growing momentum and allows us to develop digital experiences and products that support every stage of life’s journey, before and after death.
“This funding enables us to extend our reach and accelerate our product development to meet rising demand. We’re seeing Australians embrace digital estate planning solutions, and we’re excited to scale our capabilities to serve them.”
Reinventure managing partner Danny Gilligan said the startup was “one of most interesting fintech opportunities” he’s seen in his career.
“It is also our favourite place to invest – at the intersection of large, overlooked markets and things important to society,” he said
King River Capital partner Chris Barter said Safewill is the future of legal services.
“They’re not just helping Australians prepare for the future; they’re providing essential guidance for families facing difficult times,” he said
The startup has also launched a law firm, Safewill Legal.
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