WillJini raises first funding round at $3.5M valuation
WillJini has closed its first external funding round, valuing the estate-planning startup at $3.5 million post-money.
The investors were people who already knew the business: SPJIMR MBA batchmates of co-founder Jugal Popat, close friends, and some of the company's own channel partners. The latter are mutual fund distributors who sell WillJini's services to end clients and chose to invest in the company as well. No venture capital fund was pitched.
What WillJini does
WillJini is an estate-planning startup. Founded in 2013 by practising lawyer Jatin Popat, it began as a professional favour for CEOs and business families who kept asking him to draft their wills. The company has worked with more than 20,000 families and serves markets across 480 cities and 32 countries.
The company is the official succession planning partner of India’s leading financial institutions, including HDFC Group, Tata Group, Yes Group, IIFL, and Incred Wealth. Co-founder Jugal Popat, an SPJIMR MBA and former Swiggy strategy executive, joined the business full time in 2022 and brought operational systems to what his father had built by hand.
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Why it matters
Less than 1% of Indians have a will. India is entering a decade of significant intergenerational wealth transfer, with $1.3 trillion expected to change hands over the next decade, according to a EY-Julius Baer report. Most families have no plan for that transfer.
WillJini grew from Rs 3 lakh to Rs 50 lakh in monthly revenue over three years, using money from its clients to build the business.
"In the US, companies doing exactly what we do have raised $80 to $100 million each. The Indian market is just getting started," Jugal Popat said.
The fresh capital will go toward expanding awareness efforts, the advisory team, and technology infrastructure, as well as taking the company deeper into markets it already serves across 480 cities and 32 countries. "Apart from capital, this round brought permission to think bigger," Jugal said.
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