Farewill raises £20m from Matches Fashion backer Highland Europe
Will-writing tech startup Farewill has today closed a £20m investment led by Highland Europe, tripling its funding to date.
New backers Keen Venture Partners, Headspace chief executive Rich Pierson, Broadhaven Ventures, and Venture Founders also participated.
They joined previous investors, including London-listed fund Augmentum Fintech, Transferwise co-founder Taavet Hinrikus and Kindred Capital.
Farewill, which is responsible for one in every 10 wills written in the UK, offers will-writing services alongside probate and cremation.
The startup told City PM it plans to use the funding for expansion, which will include tripling its headcount in its Haggerston office in the next 12 months.
By working with charity partners, Farewill has also helped raise over £260m in pledged income for the likes of Macmillan, Cancer Research UK, Crisis, and Save the Children.
“The latest investment from Highland Europe shows their conviction in our vision for fairer, more transparent services in this space,” said Farewill chief executive and co-founder Dan Garrett.
“It means we can build on what we’ve started, growing our world-class team and designing easy-to-use tools that help people during incredibly tough times. We’ll also carry on raising millions in pledged legacy income for the third sector, and we’re aiming to get to £1bn by 2023.”
The latest funding round is expected to have valued Farewill at approximately £70m, a person close to the deal told Sky News last week.