Safewill raises $3 million from Westpac's Reinventure Fund to rethink how Australians pass away
With more than 10,000 Wills written and more than 1,300 5 star reviews in just 18 months, Safewill has quickly become Australia's largest online platform for end-of-life planning
Westpac's Reinventure fund has led a $3 million Series A funding round in Safewill, Australia's leading online end of life planning platform.
Safewill was founded in 2019 by Adam Lubofsky & Dan Bennett as Australia's first modern and approachable end of life brand. The company has since grown to become Australia's largest end-of-life platform, servicing thousands of Australians every month to help them protect their family and safeguard their life's work.
Safewill is using the funding to further develop its product, expand it's affordable and transparent approach to broader end of life services. These include digital powers of attorney, professional executor services, and Safewill's own law firm to provide fixed-fee and accessible end of life legal services. Safewill is also planning to rethink the modern Australian funeral, as well as how people navigate through grief and death.
For Safewill CEO and co-founder Adam Lubofsky, his interest in changing how Australians die is a personal one. "I started thinking about Wills when a friend of mine passed away unexpectedly without a Will. It was emotionally overwhelming, and was then followed by a difficult and complex legal process that could have easily been avoided. Safewill was designed to make it easy for all Australians to protect their loved ones and their life's work, and to bring an elevated level of dignity to death."
Co-founder and director Dan Bennett hopes to solve a significant problem faced by many families. "My personal experience relates to families close to me drowning in a painful and highly adversarial process following a family death. Instead, to me, this should be a time to celebrate love, life and legacy. Being prepared harmonises the experience for those left behind and allows our customers, at the time of writing their will, to feel gratitude for all they have."
According to Danny Gilligan, Partner at Reinventure "Safewill is pursuing an important mission of helping to bring dignity to the end of life experience that awaits us all. It's one of the few universal needs that has not been digitised in a material way. As with many opportunities Reinventure pursues, we believe that digitising the wills experience has the potential to create a new distribution mechanism for embedded finance products that help people in the latter part of their life"
Safewill, which has a strong presence in Australia's major cities, hopes to use the capital to expand its workforce beyond 50 employees.
It also would like to further expand its geographic footprint, adding customers across smaller cities & rural Australia