DeadHappy, a UK-based insurtech start-up committed to change people’s perception about death, has raised €4.5m in a Series A funding round.
The round was led by e.ventures with participation from seed investor Octopus Ventures.
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DeadHappy, which operates as a fully digital pay-as-you-go life insurance provider, plans to invest the capital to strengthen its ‘Deathwish’ platform by building additional technical capabilities.
Additionally, the company will spend the proceeds on developing new products as well as forging partnerships with financial service distributors.
‘Deathwishes’ enables users to fill out a form with answers such as what has to be done after death, how much one wants to spend on funeral expenses. It also requires filling the nominee details who will receive the fund after the death of the client.
DeadHappy co-founder Phil Zeidler said: “We’re delighted e.ventures have joined Octopus Ventures in backing our vision.
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By GlobalData“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.
“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.”
According to the company, over 63,000 deathwishes have been registered on the platform since launch.
