A County Durham company that aims to ease the administrative burden left with bereaved families has set its sights on rapid expansion, on the back of investment.
Mother-and-daughter team Julie and Vicky Wilson, from Seaham, launched Settld in February 2020, after Vicky’s grandmother died.
Working full-time and faced with the task of settling their relative’s finances and assets, it took the pair more than eight weeks – including six hours of phone calls – to sort the accounts, leaving them disillusioned with the process while also pondering how it could be improved.
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After putting together a business plan and outlining their plans for the platform, they were accepted onto the North East SME Innovation Programme – managed by the North East Business and Innovation Centre (BIC) – and tapped into support from RTC North and the ERDF-backed Arrow Project at Newcastle University.
This support, as well as grants totalling over £185,000 from Innovate Ƶ, provided the pair with everything they needed to officially launch Settld.
Eighteen months on, the company is supporting families nationwide, and it has secured a total of more than £800,000 for its end-of-life admin platform, which automates bereavement notifications to more than 750 companies, from banks to social media players.
By digitising the process, Settld says it reduces the admin stress often left with grieving families and the professionals who support them.
Settld has grown to a team of 10 and has recently closed a £500,000 seed funding round, led by SFC Capital, as it looks to go global with its platform.
Julie Wilson said: “The entire process of dealing with my mother-in-law’s estate left us incredibly frustrated at a time when we were grieving. For someone who led such a simple life - without as much as even an online presence - the process took so much time and unnecessary effort. It felt never-ending.
“It took over two months in total and once we’d finally settled everything, Vicky floated the idea of developing our own solution. Throughout her career, she’d held senior roles in marketing, product development and logistics for big tech companies and I’d spent the past few years working as a business advisor.
“The support we’ve received from each of the organisations has been fantastic, and the Innovation Programme really helped us to tap into the early-stage funding required to explore the feasibility of the technology and bring the idea to life.
“Gillian (Middleton), our innovation adviser, was so approachable and determined to help us on our journey. It was a huge comfort knowing that whenever we needed advice and support, she was only ever a phone call away.
“Not only did this support help us get the platform off the ground but it has also helped us scale at pace, closing our first funding round which raised over £500,000 and firmly establishing ourselves in the Ƶ.
“Looking forward, our plan is to increase our presence overseas, with the launch of Settld in new territories and the expansion of our corporate partner network which will help us support more families and professionals, improving our pioneering automated bereavement notification service and expand our portfolio of products.”
Ms Middleton said: “Settld is an incredible business and we are delighted to have been able to support them on their journey. Not only have they developed an innovative solution that is transforming the way we do business, but it is also transforming people’s lives and is a fantastic success story for the North East.”
