Glasgow-based technology firm Exizent has raised significant funding to transform the bereavement process through the launch of a new platform.
Launching next month, the first of its kind platform connects data, services, and the network of people involved when someone passes away with the aim of increasing speed and simplifying the process.
The company raised £3.6 million in funding – believed to be the largest investment in a Scottish tech business since lockdown began – from several investors, including the global platform-as-a-service firm FNZ.
Nick Cousins, Founder and CEO of Exizent, said: “Our personal experiences are what led us to establish Exizent. We believe the administrative tasks facing families after the death of a loved one should be far easier, and that modern technology solutions and services can make this a reality.
“We have spent the last 18 months carefully designing, developing, and testing our product with innovative partners, and look forward to launching the platform to legal services professionals later this year.”
Currently, the administration of the bereavement process is manual and paper-based. For those needing to apply for probate (relevant to around half of the 600,000 UK deaths each year), it is the role of the Executor, or a Legal Services firms helping them, to unearth evidence of financial or non-financial assets and confirm values.
Exizent’s platform helps legal services firms, working for executors, to efficiently manage the process, whilst also making the gathering of information about an estate easier by connecting third parties to automatically discover assets the person may have had, reducing the reliance on the transfer of physical documents.
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“The Exizent team has already achieved an enormous amount and we are proud to support their vision of leveraging technology to make the bereavement process far easier for everyone involved, ” said Adrian Durham, Group CEO of FNZ. “Exizent will also be joining the fast-growing FNZ OpenPlatform App Store.”
The company also plans to build digital connections with the various institutions that hold data and information about the person who has passed away to help them deal with queries from executors and legal services firms more efficiently.