DeadHappy, the UK’s fastest-growing life insurance provider, has raised over $15M in equity in its latest funding round, with existing VC’s Octopus and Headline reinvesting in this round alongside new shareholders Volution, Verso Capital and Channel 4 Ventures. In addition to venture capital backers, the company has seen over 1000 individuals invest in the company during their latest crowdfunding campaign via Seedrs.
As the UK’s first fully digital pay-as-you-go life insurance provider, the company announced triple digit growth in just 12 months, fuelled by consumers seeking an easy, no-nonsense approach to life insurance. This round of funding will allow the start-up to further power future growth by building the technology and capabilities of its deathwish platform as they continue to reshape how people think about, talk about and plan for death.
Phil Zeidler, Co-founder of DeadHappy said: “We’re delighted to have such great support from the VC community as well as ‘the Crowd’. There’s significant momentum behind revolutionising the life insurance space, but there is also a much broader opportunity for our deathwish platform which allows people to plan exactly what they want to happen when they die. We’re here to help our customers think about how they want to be remembered and enable those wishes to be tied into their life insurance plan, to give it a real meaning.”
Attracted to the straight-talking approach to planning for death, the business has already seen a whopping 87% year-on-year rise in consumers searching for ‘Deathwishes’ – the brand’s USP. More than 230,000 deathwishes have now been made by its customers while the company has sold more than 24,000 life insurance plans to date.
“We’re pleased to have proven that our product serves the market and the investment will allow us to scale our business further”, Zeidler adds.
DeadHappy has seen the strongest growth from consumers aged 55-60 years old, followed closely by 25-29 year olds, revealing customers both young and old are seeking a more straightforward, fully digital pay-as-you-go life insurance provider.
The investment from Channel 4 Ventures, investment arm of Channel 4, will bring more of the company’s eccentric brand icons Mick and Tel to the small screen in a nationwide TV ad campaign, helping to further raise awareness of the brand among the mainstream audience.
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