Bequest raises £1.7m in seed funding led by Kuvi Capital to expand its life insurance platform.
Kuvi Capital led the seed investment alongside Clocktower Ventures and Form Ventures to support platform growth.
Bequest operates a digital platform that simplifies wills and life insurance for the millennial market. The company provides a streamlined approach to end-of-life administration and personal cover.
Bequest has secured £1.7m in a seed funding round led by Kuvi Capital, with participation from Clocktower Ventures and Form Ventures. The capital will support the company as it scales its operations and expands its insurance offerings.
The insurtech platform combines life insurance and will writing into a single service tailored to millennials. Since launching its updated offering, the firm has acquired over 1,000 customers and reported significant growth amid rising demand for digital estate planning.
From the founder
"Everyone deserves the right and opportunity to take care of their loved ones. Currently, 38 million families are unprotected and uninsured each year. We, at Bequest, want to make sure everyone is covered by making it relatable, accessible and something that does not cost an arm and a leg. If you look at the life insurance industry, it is out-of-date and overly complex with jargon that has plagued it for hundreds of years. Ultimately, people want life insurance online, want it quickly and want more knowledge and support – we have seen that in the hugely positive response to date to our product. With this latest funding we can now supercharge our growth and become the all-of-life platform for the millennial generation"
James Buckley-Thorp
CEO at Bequest
Investor perspective
"What initially drew us to Bequest was the nature of the life insurance market: vast, underserved and still largely undisrupted in the UK. What convinced us to lead their initial investment round was the quality of the team and their innovative approach: both in terms of creating their own unique life insurance product and developing a compelling go-to-market strategy. We’re really impressed by their early traction with customers and are excited to partner with them on the journey ahead."
Richard Sears
Investment Director, Kuvi Capital