Leicester-based InsurTech firm DeadHappy has raised £4m in Series A funding as it aims to remove the stigma around conversations about death.
Earlier this year the firm introduced what it called ‘deathwishes’, a way of helping customers express what they want to happen when they die.
Its ‘Deathwish’ platform will allow users to specify what a pay-out after death should be used for.
The firm said it will use the new funding to further expand its Deathwish platform, with plans to incorporate instructions and plans after death which extend beyond the financial, much like a will.
The funding in this latest round comes from e.ventures, alongside existing seed investor Octopus Ventures, which previously led the firm’s £1.5m investment.
We’re delighted e.ventures have joined Octopus Ventures in backing our vision,” said co-founder of DeadHappy.
“There’s real momentum behind genuinely disruptive insurance propositions, but we see the opportunity for a much broader platform creating different death services, as well as disrupting the world of insurance.”
“Distribution is key for us, we began life as a direct-to-consumer proposition but there’s a big opportunity for us to distribute our products through other brands.
“We’re pleased to have proved that our product serves the market and now we’re focusing on scaling the business.
“This funding will help us to expand our technology and create additional products including digital wills, accidental death and critical illness cover. We’re also able to grow our team and relocate to bigger business premises.”