Brunei-based online legacy planning platform Memori recently secured a ‘strategic’ sum of investment from members of an Asian royal family.
The fund will be used to grow its businesses across Brunei, Singapore and Malaysia, where an estimated 33 million adults are without a will.
The firm which was conceptualised August last year aimed to disrupt the bereavement industry by simplifying the process of leaving a legacy after death, and demystifying a topic considered a taboo in Southeast Asia.
Memori’s platform is driven by an all-in-one digital platform that offers affordable and simplified service catering to those looking for will writers as well as digital storage facilities.
The firm’s website is currently being built using a blockhain technology to ensure its security. Once launched, it will also be able to provide access to digital asset storage to the user’s pre-selected beneficiaries when the user passes on.
The platform will eventually allow people to book bereavement services and buy insurance policies online.
Memori’s CEO and Co-founder Queenie Chong said what her company aimed to do was to democratise an industry that has always been very traditional and expensive, and difficult to navigate.
She said: “It is estimated at least 80 percent of South-East Asia’s population do not have wills, because it is a social taboo to talk about end of life and the misconception about the complexity and cost of the process.
With Memori’s technology, these issues can be addressed. The new social media era has increasingly made the ability to control your digital footprint important too,” she added.
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