Picture credit: Closure
Closure, a Rotterdam-based contract cancellation service, introduced on Tuesday that it has raised €1.5M in funding from Borski Fund and Rabobank. Early traders, together with Kees Jan Rietveld, Lex Geerdes, and Wiegertje Groenveld additionally participated within the spherical.
The Dutch scaleup says it can use the funds to help the staff’s growth and roll out to different European nations.
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The announcement comes 4 years after the corporate raised €300K in a Seed spherical of funding in November 2018.
Closure: What you have to know
Based by Chantal van der Velde and Graciëlla van Hamersveld, Closure presents customers a digital platform that permits heirs to cancel all their subscriptions, from phone to social media accounts, in a single place. The platform additionally permits customers to switch them to a unique person.
Closure co-founder and CEO Graciëlla van Vliet says, “Our objective is to help heirs by dealing with the digital legacy of a beloved one. This manner, households can concentrate on what’s most essential at this second in life: mourning.”
The corporate says {that a} deceased individual sometimes has greater than 30 accounts, subscriptions, and contracts, various from financial institution accounts and insurances to charity donations and social media accounts.
The Dutch platform unburdens the heirs of the deceased by performing as a single level of contact between them and the organisations. Heirs point out the businesses with which subscriptions ought to be terminated or taken over, and Closure carries out these requests.
The inheritor can entry the progress by means of a weekly replace and a private dashboard.
Closure CTO Bart Verhaegh says, “By making use of quite a few machine studying applied sciences, a single worker can now deal with a whole lot of requests a day. We not solely unburden heirs but in addition assist organisations course of a dying notification in a care-free and fewer laborious method, as sometimes customer support desks don’t develop proportional to the corporate’s buyer base.”
The Rotterdam firm collaborates with greater than 200 funeral properties and quite a few service organisations resembling T-Cell, Unicef, Interpolis, OV-Chipkaart, and Knab.
Closure is licensed by the Dutch Authority for the Monetary Markets (AFM) to terminate or switch contracts of economic establishments.
‘We commit ourselves to improvements that stimulate individuals’s monetary well-being. As a result of modern power and mission-driven strategy of the staff, we now additionally help the subsequent progress steps. We see alternatives for Closure to extend their influence in each the Netherlands and overseas,” says Thijs Reiling, funding banker, startups and scaleups at Rabobank.
“Behind the Closure software program is a revolutionary innovation that is also relevant outdoors the dying course of. At Borski Fund, we put money into AI options as a result of they provide huge alternatives to effectively clear up quantitatively giant social issues. Closure is the fifth AI firm so as to add to our portfolio.” stated Bertrand van Leersum, Funding Director at Borski Fund.
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