Highland Europe leads a £20m Series B round in Farewill to fund UK expansion and product development.
"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."
Insight Partners led the Series C round, which included participation from Augmentum Fintech, Kennet Partners, and CIBC.
"The addition of Augmentum alongside our current investors, Insight, Kennet and CIBC, strengthens our board and will help us meet our ambitious growth goals, following a stellar 2019."
The Series B round was led by The SBI Group and Augmentum Fintech to support UK market expansion and international growth.
"Tide's rapid growth, alongside the quality of its products and services used by its growing army of members, is hugely exciting. For more than a decade, we have been establishing an internet-based financial ecosystem to drive growth through the aggressive use of new technology. Tide fits perfectly into that ecosystem and shares our approach to business which is to be customer-centric, and innovative to create value."
The Series C financing was led by SBI Investment and Salesforce Ventures to support international expansion and product development.
"We chose to invest in Onfido because they have proven their expertise at using artificial intelligence to effectively fight fraud, giving businesses a safe and secure way to scale their businesses online."
