Velocity Capital leads investment alongside Scottish Enterprise
Digital legacy vault innovator Biscuit Tin has secured a £300,000 investment round, with Velocity Capital leading the investment alongside Scottish Enterprise and private investment. The funding will support product development and a series of hires.
“Velocity is delighted to be working with Sheila as she tackles a very real pain point; managing the end-of-life planning process through a user-friendly digital vault, making it simple and easily accessible.”
Sheila Hogan founded Biscuit Tin to transform end-of-life management and the company is the UK’s leading digital legacy vault, securely holding valuable life information including account details, documents, post-life wishes, memories and more. Hogan named the company after the biscuit tin in which her parents kept all their important documents, notes, and photos. Digital legacy is a new and growing market which is expected to reach a value of approximately $35 billion worldwide over the next five years.
Latest Fintech News: CRMNEXT Launches Its New OCP To Power Continuous Channel Experience
Kirsten Gohl, Velocity Investment Associate, said: “Velocity is delighted to be working with Sheila as she tackles a very real pain point; managing the end-of-life planning process through a user-friendly digital vault, making it simple and easily accessible.”
Biscuit Tin founder and CEO Sheila Hogan said: “The end-of-life process has become complicated and stressful as a result of the shift from an analogue to a digital world. Digital legacy planning is set to replace more traditional and outdated practices, and we want to be at the forefront of this in the UK.”
Biscuit Tin, which launched in 2020, is targeting both B2C and B2B markets, with a number of commercial partnerships set to be announced in 2022.
Latest Fintech News: E-Commerce SaaS Company ‘Swiftline’ Launches to Acquire, Develop, and Operate Integrated Services
Hogan added: “As well as having an offering for individuals, we are increasingly speaking to financial services players in areas like life insurance, mortgages, and pensions, with a view to either joint ventures or white labelling our product so these kind of providers can add value and increase engagement with their customer base.”
Biscuit Tin appointed an advisory board last year, with technology veteran Iain Mackay, former Scotland lead for Deliveroo, Andy Robinson, and former ZoneFox chief technology officer Matt Little now supporting Hogan and her team as Biscuit Tin plans its next phase of growth. Mackay was recently appointed Non-executive Director and chair.
The company plans to embark on an additional investment round over the next twelve months.
Latest Fintech News: Tavant FinDecision Enhances Broker Experience Through Collaboration with PennyMac Financial Services, Inc.
[To share your insights with us, please write to sghosh@martechseries.com]
