ClearEstate Announced US Launch and C$2.5M Round
juin 16, 2021
We’re proud to share that ClearEstate, announced C$2.5M in seed extension funding to support product innovation and an expanded further rollout across the United States and Canada. Alongside the raise, the company shared that it had launched it’s platform in the US in partnership with California-based funeral home operator Anthem Partners.
In addition to Diagram, this funding was raised from strategic investors including funeral home operators across North America that are also launch partners for the platform. Other institutional investors include Torstar Corporation, Triangle Capital Corporation, and NAventures.
Taking the Unknown Out of Being an Executor in a Digital-First World
The average estate is valued at $180,000 in North America and currently, approximately US$0.5T is transferred each year from one generation to the next. Over the next 25 years, we can expect to see the largest wealth transfer in history of approximately US$65T.
“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 lives," said Davide Pisanu, co-founder and CEO of ClearEstate.
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.
Whether working directly with executors and families themselves or through our funeral home partners, ClearEstate’s platform offers systematic, tailored guidance to help individuals navigate the legal and procedural complexities of the estate settlement process with ease.
Further, not only does the platform offer much-needed clarity and efficiency to executors, it was developed while ensuring that traditional industry players have an opportunity to remain competitive in a rapidly changing environment. As they’ve done in California, the company plans to continue working in partnership with funeral home partners as they grow.
Congratulations ClearEstate! We are excited about your growth and look forward to the journey ahead as you take estate settlement into the digital-age.