A Scottish technology company has secured £ 3.6 million in funding ahead of the launch of a digital platform next month aimed at changing the way the legal and financial services sectors manage cases of bereavement.
Exizent, based in Glasgow and founded by Nick Cousins and Aleks Tomczyk in 2018, obtained the money from FNZ, a financial technology firm, and other undisclosed investors. After releasing in October for legal services companies, Exizent will be included in the FNZ OpenPlatform app store.
The firm was founded after the personal experiences of the founders coping with a loved one’s death. Mr. Cousins was formerly Barclays Wealth and Investments’ chief product executive, while Mr. Tomczyk was the founder and managing director of the consultancy company Arum, based in Edinburgh.
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“Our personal experiences led us to start Exizent,” said Mr. Cousins. We believe that after the death of a loved one, the administrative tasks families face should be much easier, and that modern technical solutions and services will make that a reality.
“We’ve spent the last 18 months carefully designing, developing and testing our product with innovative partners, and we look forward to rolling out the platform to legal service providers later this year.”
Initially, the platform will enable law firms operating on behalf of executors to efficiently manage the process of completing and filing probate applications in Scotland, called “confirmation” The platform will also promote the process of gathering information about an estate by linking third parties to automatically identify properties that the deceased may have owned, minimizing the reliance of an executor.
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In order to more efficiently manage requests from executors and law firms, Exizent also aims to create digital links to the various organizations that hold data and information about the deceased.
FNZ’s Adrian Durham said, “The team at Exizent has already achieved a tremendous amount, and we are proud to support their vision to use technology to make the bereavement process easier for everyone involved.”
The business hires 22 individuals, most of whom were recruited during the lockdown.