Farewill, a UK-based funeral preparation services provider backed by media group Daily Mail and General Trust (DGMT), has completed a £20m ($25.2m) funding round, City AM reported yesterday.
The round was led by growth equity fund Highland Europe and included Keen Ventures, Broadhaven Ventures, Venture Founders, Augmentum Fintech, Kindred Capital and private investors Rich Pierson and Taavet Hinrikus.
Founded in 2015, Farewill helps UK-based clients write and validate wills to prepare their estate for their loved ones, in addition to offering a cremation service. The round was expected to value it at approximately $88m, a source told Sky News last week.
The company raised $9.6m from DMGT’s corporate venturing unit, DMG Ventures, as well as Augmentum Fintech, Transferwise, Venture Founders, Saatchinvest, Kindred Capital, Tiny VC and various individuals in January 2019.
The round came after Saatchinvest and Kindred Capital had joined assorted angel investors to supply $500,000 in seed funding for Farewill in 2016.