Adam Lubofsky and Dan Bennett founded Safewill in 2019 with the vision of digitizing estate planning. Over the past five years, more than 150,000 Australians have created a will using the platform. Despite this progress, around half the population still does not have a will.
Safewill recently raised $17 million in a Series B round of funding. The round was co-led by King River Capital and existing backer Reinventure. Other investors included Carthona Capital, Flying Fox Ventures, and Betashares cofounders Alex Vynokur and Ilan Israelstam, as well as FlareHR chair Geoff Lloyd and Chris Cuffe.
Lubofsky noted that the new funding will enable the platform to expand its services beyond digital wills. “We’re moving beyond estate planning toward estate administration and planning for what the future of that space will look like,” he said.
Safewill’s $17m funding milestone
Reinventure managing partner Danny Gilligan praised Safewill as “one of the most interesting fintech opportunities” he has seen in his career. King River Capital partner Chris Barter echoed this sentiment, calling Safewill the “future of legal services” and highlighting their provision of essential guidance for families facing difficult times. In addition to their funding success, Safewill has also launched a law firm, Safewill Legal, to further support their mission.
The investment marks a significant step forward for Safewill, allowing them to extend their reach and accelerate product development to meet rising demand. The company continues to lead the way in digital estate planning solutions, providing accessible and essential services to Australians. As more aspects of life move online, the management of posthumous affairs is following suit.
Investors see potential growth in this sector, driven by the simplicity, accessibility, and security that digital platforms can offer. With technological advancements and increasing acceptance of digital solutions, Safewill is well-positioned to capitalize on this opportunity. The funding will enable the company to innovate and stay ahead in a growing market of digital estate planning services.
