WillJini raises first external round at $3.5M valuation
WillJini, a Mumbai-based estate planning and inheritance company, has closed its first external funding round at a post-money valuation of $3.5 million.
The capital came from 11 SPJIMR MBA batchmates, close friends, and a group of the company's own channel partners, including five wealth management companies. The company raised the money without approaching a single venture capital fund. Investors named in the announcement include Priyesh Sampat, a Mumbai-based wealth advisor, and Pranav Byatnal, a batchmate described as WillJini's first investor.
The capital will be deployed towards advisory team expansion, technology infrastructure and geographic growth.
Inheritance planning in India extends beyond preparing a Will: families may need to consider nominations, ownership structures, succession arrangements, family relationships and legal processes.
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Practising lawyer Jatin Popat started the business in 2013 after CEOs asked him to prepare their Wills. His son Jugal Popat, an SPJIMR MBA and former Swiggy executive, joined full-time in 2022 alongside co-founder Rahul Shah.
The company bootstrapped for three years before taking outside capital, growing monthly revenue from 3 lakh to 50 lakh entirely on client money. It says it has served more than 20,000 families across 480 cities and 32 countries.
Less than 1% of Indians currently have a Will. According to a Julius Baer and EY report, $1.2 trillion in wealth will be transferred between generations in India this decade, most of it without a succession plan in place.
"Estate planning in India today is where insurance was 20 to 30 years ago, low penetration, stigmatised, but inevitable," said Jugal Popat, Co-Founder, WillJini.
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