Safewill, an estate planning platform that has digitized the process of writing a will, has secured $17 million in a Series B funding round. The round was co-led by King River Capital and existing backer Reinventure, with participation from Carthona Capital, Flying Fox Ventures, Betashares cofounders Alex Vynokur and Ilan Israelstam, FlareHR chair Geoff Lloyd, and Chris Cuffe. Founded in 2019 by Adam Lubofsky and Dan Bennett, Safewill has helped over 150,000 Australians create a will using their platform in the past five years.
However, approximately half of the population still does not have a will. Lubofsky expressed excitement about the new funding, stating that it will allow the platform to 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.
Danny Gilligan, managing partner at Reinventure, described Safewill as “one of the most interesting fintech opportunities” of his career.
Safewill secures major funding boost
He emphasized the importance of investing in large, overlooked markets that hold societal significance.
King River Capital partner Chris Barter commended Safewill, calling it 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. In addition to its digital platform, Safewill has launched a law firm, Safewill Legal, to further its mission.
The new capital injection will enable Safewill to enhance its product offerings and meet the growing demand for digital estate planning solutions across Australia. As technology continues to evolve, platforms like Safewill are demonstrating that even the most traditional industries are ripe for innovation. The funding marks a significant step forward for the company, allowing them to extend their reach and accelerate product development in the burgeoning “death tech” sector.
