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Digital end-of-life planning platform Safewill has completed a $5.5 million Series A top-up, building on a $3 million Westpac-led initial round in 2021, as the Sydney-based company looks to expand internationally.
Co-founded by CEO Adam Lubofsky and director Dan Bennett in 2019, Safewill’s Series A extension was led by Carthona Capital, new investor Flying Fox Ventures and returning backer Reinventure.
The company’s CEO hopes to export the technology overseas to grow out its user base that taps into Safewill’s digital end-of-life planning services which assist people in putting together enduring powers of attorney and guardianship documents.
The scaleup also offers users a low-cost funeral planning service, a subscription-based digital vault where customers store important documents to support executors and an affiliate wills and estates law firm.
“Safewill has grown to be much more than just a digital will writing platform. We’ve built a digital product that ties together all aspects of end-of-life planning – including estate planning documents, funeral products, end-of-life legal services, and modern concepts of legacy and farewell – in one unified digital product,” says Lubofsky.
“Our mission is to build the products that change how the world navigates the end-of-life journey.”
Since its establishment, Safewill claims to have supported close to 100,000 users and boasts a commitment to the not-for-profit space by partnering with more than 200 Australian charities to help them acquire and track charitable gifts in wills including the likes of Cancer Council, Fred Hollows Foundation, Guide Dogs Australia and more.
“Charitable gifts in wills are the lifeblood of Australian fundraising,” says Lubofsky.
“From the day we started Safewill, we knew charities had difficulty in acquiring and tracking gifts in wills and wanted to address that problem. As the largest will writing platform in Australia, we’re uniquely placed to help charities turbocharge their bequest programs and add value to their donors.
“Today, we have had more than $500 million in charitable gifts committed to Australian not-for-profits through our wills, which makes Safewill one of the major charitable fundraising platforms in Australia.”
The co-founder adds that Safewill is now in the planning stages of its overseas expansion.
“With our domestic success, we’re now looking at how we can export our award-winning technology overseas,” Lubofsky says.
“We’re in the strategic stages of identifying the most relevant markets and anticipate executing on this plan towards the end of this year.”
Reinventure co-founder and managing partner Danny Gilligan says Safewill has a rare opportunity to make a ‘meaningful’ impact on the end-of-life sector.
“Safewill is the clear leader in digitising at scale one of the few domains left in our market largely untouched by technology, and one that touches us all,” Gilligan says.
“It also just so happens to be one of the rare opportunities that intersects the ability to affect meaningful change in the world and a material untapped market.”
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