EDINBURGH–(BUSINESS WIRE)–Digital Legacy Vault Innovator cookie box secured an investment round of £300,000, with Velocity Capital lead investment alongside Scottish Enterprise and private investments. The funding will support product development and a series of hires.
Sheila Hogan founded Biscuit Tin to transform end-of-life management and the company is the UK’s first digital safe, securely holding valuable life information including account details, documents , after life wishes, memories and more. Hogan named the business after the cookie jar his parents kept all their important documents, notes and photos in. Digital legacy is a new growing market that is expected to reach a value of approximately $35 billion worldwide over the next five years.
Kirsten Gohl, Velocity Investment Associate, said, “Velocity is thrilled to be working with Sheila as she tackles a very real problem; manage the end-of-life planning process through a user-friendly digital vault, making it simple and easily accessible.
Biscuit Tin Founder and CEO Sheila Hogan said, “The end-of-life process has become complicated and stressful due to the shift from an analog to a digital world. Digital legacy planning is set to replace more traditional and outdated practices, and we want to be at the forefront of this in the UK.
Biscuit Tin, which launched in 2020, targets both B2C and B2B markets, with a number of business partnerships expected to be announced in 2022.
Hogan added: “As well as having an offering for individuals, we are increasingly reaching out to financial services players in areas such as life insurance, mortgages and pensions, with a view to creating joint ventures or white labeling our product so that these types of vendors can add value and increase engagement with their customer base.”
Biscuit Tin appointed an advisory board last year, with tech veteran Iain Mackay, ex-Scottish Deliveroo head Andy Robinson and former ZoneFox chief technology officer Matt Little now backing Hogan and his team as Biscuit Tin plans its next phase of growth. Mackay was recently named non-executive director and chairman.
The company plans to embark on an additional round of investment over the next twelve months.