Strategic investors include funeral home operators seeking to take estate settlement into the digital-age
MONTREAL, June 16, 2021 /PRNewswire/ – Today, ClearEstate, a digital-first estate settlement platform for North American executors, announced its platform launch into the US in partnership with California-based funeral home operator Anthem Partners. The estate settlement fintech also announced C$2.5M in seed extension funding to support product innovation and an expanded further rollout across the United States and Canada.
This funding was raised primarily from strategic investors including funeral home operators across North America that are also launch partners for the platform. Institutional investors include Torstar Corporation, Triangle Capital Corporation, NAventures and Diagram Ventures.
Traditionally, the estate settlement process can take over 400 hours or 12-18 months to complete, and the average executor must independently procure fragmented and costly settlement solutions. Further, most executors are not equipped or prepared for the process, with over two-thirds (71 per cent) of North American executors noting they have never discussed the assets of the estate before their appointment, and a majority (58 per cent) reporting little to no awareness of what the role entails.
“ClearEstate’s streamlined, all-in-one, tech-enabled solution was built with estate executors’ needs at the forefront during what is often a difficult personal period in their…