Scottish fintech Exizent secures £3.6 million funding
Exizent, just announced it had raised £3.6m investment to completely reinvent how the legal and financial services sector deals with bereavement making it less stressful for families.
The Scottish fintech is working on the first ever platform that will connect data, services and the network of people involved when someone passes away. Exizent's objective is to make the process less uncertain and significantly faster and simpler.
Co-founders Nick Cousins and Aleks Tomczyk both have an impressive track records of building successful products and businesses. Aleks founded the very successful fintech Arum before selling the business at the end of 2017. Nick was previously Chief Product Owner of Barclays Wealth and Investments division.
The investment announced today involved several investors including FNZ, the global platform-as-a-service firm which reached unicorn status in 2018.
Nick Cousins, Founder and CEO of Exizent, said:
“Our personal experiences are what led to 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.”
Adrian Durham, Group CEO of FNZ said:
“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. Exizent will also be joining the fast growing FNZ OpenPlatform App Store.”
In the next few months the company will focus on helping legal services firms, working for executors, efficiently manage the process of completing and submitting probate applications (confirmation in Scotland). It will also make the process of gathering information about an estate easier by connecting third parties to automatically discover assets the person may have had, reducing the reliance on an executor to find and send physical documents.
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.