MELBOURNE, Australia, September 18, 2024 -- Willed (www.willed.com.au), the innovative online will-writing and end-of-life planning platform, announces a strategic investment by one of Australia’s leading media companies, Seven West Media (ASX: SWM), to further accelerate growth over the next 12 to 24 months.
Highlights
● Strategic investment of $3.0 million by Seven West Media (“Seven”) in Willed with an option of a further $3.0m.
● The investment helps Willed to further address the critical need in the market, with over 50% of Australian adults lacking valid Wills and many with no funeral plans.
● Pivotal opportunity to increase Willed's brand awareness & familiarise people to the service through Seven’s extensive network, reaching 19 million Australians each month.
● This latest round of investment sees Seven join institutional investors including Founder of PSC Insurance Group, Paul Dwyer, Thorney Investment Group, Ellerston Capital and Morgans’ Hugh Robertson.
Seven has agreed to make a strategic investment of $3.0 million in Willed with an option of a further $3.0m available.
The strategic investment will fuel Willed's growth plans by utilising Seven’s extensive media network to significantly increase Willed's market penetration and cement its position as the number one brand in Australia for end-of-life planning & services.
David Kaplan, CEO & Co-founder of Willed commented: “This strategic investment from SWM is a game-changer for Willed because of their unparalleled reach and media expertise. This investment means we can accelerate our growth faster than ever before.”
“This investment not only validates our company's mission but also comes at a critical time when the rising cost of living is putting serious strain on all Australian households. Willed is uniquely positioned to meet the needs of all Aussies, who deserve to have end-of-life planning demystified and made more affordable.”
“Longer term, the timing couldn’t be better because the largest generational wealth transfer in Australian history is getting underway – making it more important than ever before for people to have their affairs in order.”
At a glance
- Company
- Willed
- Announcement
- Financing
- Location
- Melbourne, Australia
Key figures
- Strategic investment
- $3.0 million
- Additional investment option
- $3.0m
- Growth period
- 12 to 24 months
- Australians helped write wills
- over 100,000
- Bequeathed to charities
- more than $500 million
People
- David KaplanCEO and Co-founder of Willed
- Alex BeerHead of Ventures at Seven West Media
Products and programs
Alex Beer, Head of Ventures at Seven West Media said: “In a relatively short period of time Willed has grown into the leading 'End of Life’ services platform in Australia providing Wills, Funerals and Probate services for today's online consumer."
"Traditional operators tend to be limited by location and stick to either funerals or legal services alone. Willed are able to better serve customers across a range of related services."
"We believe the upside for Willed is significant and in partnership with Seven, we aim to turbo-charge awareness of the Willed brand via a national TVC campaign across Australia.”
With over 50% of Australian adults still without a valid Will, and other segments of the end-of-life services ripe for disruption, the partnership between Willed and Seven addresses these significant needs.
By combining Willed's user-friendly platform with Seven’s extensive reach, the companies aim to educate and empower millions of Australians to take greater control of their futures.
Since starting up in 2020, Willed have helped over 100,000 Australians to write their legally valid Will online with more than $500 million bequeathed to charities (and counting!). The platform has expanded its range of end-of-life services to include power of attorney, probate, prepaid funeral plans and also at-need funerals.
This latest round of investment sees Seven join previous investors including institutional investors Founder of PSC Insurance Group, Paul Dwyer, Thorney Investment Group, Ellerston Capital and Morgans’ Hugh Robertson.
-ENDS-
About Willed
Willed is a leading end-of-life planning platform making Wills, Probate, Prepaid Funeral Plans, Funeral Services & Direct Cremations simple, affordable and accessible for all Australians. Founded in 2020, Willed is on a mission to dial down the devastation of a poorly planned death through guidance, expertise and care. For more information: www.willed.com.au
About Seven West Media
Seven West Media (ASX: SWM) is one of Australia’s most prominent media companies, reaching more than 19 million people a month with a market-leading presence in content production across broadcast television, publishing and digital.
The company owns some of Australia’s most renowned media businesses, including the Seven Network and its affiliate channels 7two, 7mate, 7flix and 7Bravo; the digital platform 7plus; 7NEWS.com.au; The West Australian; The Sunday Times; PerthNow; The Nightly; and Streamer. The Seven Network is home to Australia’s most loved news, sport and entertainment programming, including 7NEWS, 7NEWS Spotlight, Sunrise, The Morning Show, The Voice, Home and Away, Australian Idol, My Kitchen Rules, SAS Australia, Farmer Wants A Wife, The Chase Australia, Better Homes and Gardens, RFDS, The 1% Club and the TV WEEK Logie Awards. Seven Network is also the broadcast partner of the AFL, Cricket Australia and Supercars.
CONTACTS
Willed
David Kaplan, Co-founder
Aaron Zelman, Co-founder
Tel: 1300 945 533
E: [email protected]
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In brief
Willed says it has received a strategic investment of $3.0 million from Seven West Media, which also has an option to invest a further $3.0 million. The Melbourne-based online end-of-life planning company says the funding will support growth over the next 12 to 24 months, with Seven’s media network intended to help raise awareness of its services. Willed offers online wills and services including probate, power of attorney and funeral planning. The company says it has helped more than 100,000 Australians write wills since launching in 2020, and that more than $500 million has been bequeathed to charities through those wills. Seven says it plans to promote Willed through a national television campaign. The release describes Seven’s investment as joining Willed’s existing investors.
Key takeaways
- Seven West Media invested $3.0 million in Willed and has an option to invest a further $3.0 million.
- Willed says the funding will support growth over the next 12 to 24 months.
- Seven intends to promote Willed through a national television campaign, according to the companies.
- Willed says it has helped more than 100,000 Australians write wills since 2020.
