Farewill secures £20m Series B funding led by Highland Europe to expand digital death services
Highland Europe leads a £20m Series B round in Farewill to fund UK expansion and product development.
Farewill provides digital death services in the UK, offering online will writing, probate, and direct cremation. The company combines straightforward technology with dedicated support to modernise an antiquated sector.
Farewill has secured £20m in a Series B funding round led by Highland Europe, with participation from several new and existing backers. The capital will be directed towards expanding operations across the UK, improving existing services, and developing new product offerings.
Founded in 2015, the company has grown to become the UK provider of digital wills, probate, and direct cremations. The latest injection of capital brings the total amount raised by the business to £30m, following support from investors including Augmentum Fintech, Kindred Capital, and Taavet Hinrikus.
The investment arrives as demand for streamlined digital administrative services increases, particularly following the complexities highlighted during the coronavirus pandemic. Farewill intends to build on its position in the market and continue its charitable legacy fundraising initiatives.
From the founder
"Dealing with death is one of the hardest parts of life, and we started Farewill to take some of the pain out of the process. The latest investment from Highland Europe shows their conviction in our vision for fairer, more transparent services in this space. 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 £1 billion by 2023. There’s a real need for change in this industry and we’re really proud to be leading it."
Dan Garrett
CEO at Farewill
Investor perspective
"How about entirely removing the administrative pain for those grieving for their loved ones? How about providing an affordable, effortless and considerate service? That’s what the Farewill team is doing – with an extraordinary blend of compassion and tech-fueled efficiency,"
Stan Laurent
Partner, Highland Europe
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
Stan Laurent
Highland Europe
Keen Venture Partners
Rich Pierson
Broadhaven Ventures
Venture Founders
Tim Levene
Augmentum Fintech
Taavet Hinrikus
Kindred Capital