Aura Life secures £350k equity investment
The investment is part of a wider £2m funding round that will support business growth and create 16 new jobs
Surrey-based funeral plan provider Aura Life has secured a £350k equity investment from the Coast to Capital Growth Fund via appointed fund manager, The FSE Group.
The investment is part of a wider £2m funding round that will support business growth and create 16 new jobs.
Aura Life’s funding round also included financial contributions from the Oxford Innovation Fund and the FSE Angel Investor Network.
A fully regulated end-of-life planning company, Aura Life was started in 2019 by the Jameson family to address the logistical, financial and emotional challenges faced by consumers in funeral planning.
Dave Jameson, CEO of Aura Life, said: “This funding will enable us to further our mission of creating a society where planning for death is embraced as part of life. Our digital funeral planning service and end of life planning tools ensure that we can cater to the diverse needs of our clients during their most challenging times.
“We are thrilled to have the support of The FSE Group and our other investors on this journey.”
Jonathan Day, investment manager at FSE, added: “Aura Life’s innovative approach to funeral planning is combined with an impressive management team and strong market potential. They have successfully navigated FCA registration and, in just over a year, driven sales of over £2m of funeral plans alone.
“We believe Aura Life is well-positioned to revolutionise the funeral care industry and provide significant benefits to families across the UK.”
The direct cremation market – currently valued at around £700m – has seen sharp growth of 600% since 2020.
FSE Group’s Coast to Capital Growth Fund is part of the Coast to Capital Funding Escalator, which provides eligible companies with loans and equity funding between £50k and £500k for activities that will deliver high-growth and employment opportunities.