Death-tech disrupter Settld seals £500k investment in first round funding
Seed funding round ‘significantly oversubscribed’ for end-of-life admin startup
June 2nd, 2021PRESS RELEASE
End-of-life admin service Settld has closed its initial seed funding round with £500,000 of new investment.
Investors appeared extremely keen to get in on the startup’s action as Settld’s initial funding round closed £300,000 over-subscribed.
The investment comes as the death-sector disrupter creates waves in the bereavement and death-tech space - automating bereavement notifications and reducing end of life admin stress for grieving families and professionals who support them.
Settld’s CEO, Vicky Wilson, said: “This investment is crucial in helping us to bring the Settld service to more families and professionals, improving our pioneering automated bereavement notification service, working closely with more service providers and expanding our portfolio of products.
“We are extremely encouraged not only to have quickly got the investment we sought, but to end up over-subscribed. That illustrates clearly that Settld has touched a pain-point in the bereavement process. We are delighted to welcome our new investors who will help us expand our reach.”
Settld’s automated notification service is free to the public. A similar automated service is provided to a growing number of organisations tasked with closing, freezing and transferring accounts for their clients and customers. Settld is also available to local authorities.
Settld’s lead investor is early stage investment fund manager SFC Capital.
Investment Manager, Ed Stevenson, at SFC Capital said: “We are thrilled to be a part of the Settld journey. We invest in startups which provide innovative solutions, and unrivalled entrepreneurial spirit. We see that in the team building Settld into a service which will benefit bereaved families across the UK, and eventually around the world.”
Online startup Settld removes much of the hassle associated with having to individually contact banks, insurers, mobile and broadband providers, TV subscription services and others, to inform them of a death. The secure and simple service launched earlier this year.
Settld co-founders Vicky and Julie Wilson also founded the Bereavement Standard campaign campaign with Cruse Bereavement Care, supported by Sue Ryder. Over 93,000 people have signed a petition calling for better treatment from service providers for bereaved families.
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