Safewill, an estate planning platform, has secured $17 million in a Series B funding round. The round was co-led by King River Capital and existing investor Reinventure. Other participants included Carthona Capital, Flying Fox Ventures, Betashares cofounders Alex Vynokur and Ilan Israelstam, FlareHR chair Geoff Lloyd, and Chris Cuffe.
Safewill was founded in 2019 by Adam Lubofsky and Dan Bennett. The platform aims to digitize estate planning. Over the past five years, more than 150,000 Australians have used Safewill to create their wills.
Lubofsky emphasized the importance of this new funding round. It will allow the platform to expand its services beyond digital wills into estate administration. This will provide comprehensive planning tools for various stages of life.
“We’re moving beyond estate planning towards estate administration and planning for what the future of that space will look like,” Lubofsky said.
Safewill’s funding boosts digital wills
“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.”
Danny Gilligan, managing partner at Reinventure, described Safewill as one of the most intriguing fintech opportunities he has encountered.
“It is also our favourite place to invest – at the intersection of large, overlooked markets and things important to society,” he stated. Chris Barter, partner at King River Capital, highlighted the broader significance of Safewill’s 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 expanding its platform, Safewill has also launched a law firm called Safewill Legal. This will provide further support for its users. The company’s mission is to make estate planning more accessible and efficient.
It aims to address the needs of a significant portion of the population who currently do not have a will. This investment positions Safewill to rapidly scale its offerings. It will help the company meet the increasing demand for digital estate planning solutions in Australia.
