23rd Jan 2019 12:52
(Correcting name of Farewill Ltd and clarifying its business operations)
LONDON (Alliance News) - Augmentum Fintech PLC said Monday it has invested GBP4.0 million in financial and legal services platform Farewill Ltd.
Farewill is a platform providing "all-in-one" services for dealing with death - including online will-writing, will management and probate services.
Augmentum said it is leading a GBP7.5 million series A fundraising for Farewill, alongside existing and new investors.
The fundraising is expected to help Farewill expand its team.
"Securing pre and post-death services is an archaic and painful process. There is little competition in a sector untouched by digital, with inefficiencies and pricing that reflect these market characteristics. There is a considerable opportunity in this space where Farewill are incredibly well positioned," said Chief Executive Officer Tim Levene.
Shares in Augmentum Fintech were down 0.2% midday Wednesday at 102.75 pence each.
Related Shares:
Augmentum Fint.