FSP advises CIOSF on its investment in death notification service Life Ledger
Field Seymour Parkes’s Private Equity and Venture Capital team, led by corporate partner Penelope Garden has advised the Cornwall and Isles of Scilly Investment Fund (“CIOSF”) on its £250,000 equity investment in Life Ledger. The investment was part of a £1.25m funding round to expand its online service to consolidate and automate death notifications.
Life Ledger solves the admirative burden faced after a death by consolidating the notification process with a free to use service that removes the need to have the same difficult conversation over and over again. Life Ledger currently sends notifications to over 900 UK companies across sectors ranging from banks and pension providers to gas, water, telecoms and social media.
Life Ledger has seen significant interest from service providers who recognise the potential time savings for their own customer service teams, and the goodwill that can come from the ease of transactions for the deceased’s family.
The company’s platform has been built with four different groups in mind: the recently bereaved who need to notify the service providers, professional notifiers such as solicitors or probate firms, pre-registrants who wish to organise their affairs before their own death, and service providers who need to know about a customer’s death.
The investment will be used to recruit new staff in sales, marketing and tech support in order to accelerate new users and to build partnerships with service providers. Professional users will also find the facility quicker, easier and more comprehensive to use than any other service currently available.
CIOSIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.
For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk or follow the fund on Twitter at @CIOSIFBBB2
Read more about Life Ledger at www.lifeledger.com.