Augmentum Fintech plc invests £4.0m in Farewill

21 January 2019

LEI: 213800OTQ44T555I8S71

Augmentum Fintech plc

Augmentum Fintech plc announces £4.0 million investment in Farewill

Augmentum Fintech plc (LSE: AUGM) (“Augmentum” or the “Company”), one of Europe’s leading fintech venture capital investors, announces an investment of £4.0 million in Farewill Limited, the all-in-one financial and legal services platform for dealing with death.

Augmentum is leading the £7.5 million Series A fundraising alongside existing and new investors including dmg ventures, SAATCHiNVEST, and Kindred Capital.

Farewill (www.farewill.com) which offers online will-writing, will management and probate services, aims to be the first major consumer brand in death services.

This investment round will enable Farewill to expand its team and allow the business to continue to deliver the highest level of customer support and satisfaction though its online service. Farewill customers benefit from having a specialist at the end of a phone or live chat, at any time of the day, seven days a week.

Tim Levene, of Augmentum Fintech, said: “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”.

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For further information, please contact:

Augmentum                                    [e-mail]

Tim Levene                                        [phone]

Richard Matthews

Nigel Szembel                                  [phone]

Fidante Capital                               [phone]

Tom Skinner

Nick Donovan

Peel Hunt                                          [phone]

Luke Simpson

Liz Yong

Notes

About Augmentum Fintech plc:

Augmentum Fintech plc is one of Europe’s leading venture capital investors focusing exclusively on the fintech sector. Augmentum invests in fast growing fintech businesses that are disrupting the banking, insurance, asset management and wider financial services sectors. Augmentum is the only listed fintech-focused venture capital firm in the UK, having launched on the main market of the London Stock Exchange in 2018, giving businesses access to patient capital and support, unrestricted by conventional fund timelines.