Surrey’s Aura Funerals closes out £2m funding round
Aura, a Guildford-based provider of funeral services and funeral plan sales, has completed a £2 million-plus funding round to support future growth – including the creation of 16 new jobs.
The round included a £350,000 equity investment from the Coast to Capital Growth Fund via The FSE Group, as well as contributions from the FSE Investor Network and Oxford Innovation Fund.
A fully regulated end-of-life planning company, Aura seeks to address the logistical, financial and emotional challenges of funeral planning.
Its digital platform simplifies the process, providing clarity for families of the deceased, allowing them to focus on managing their grief and celebrating their loved ones without the added stress of logistical and financial burdens.
Dave Jameson, CEO of Aura, 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, and we’re thrilled to have the support of The FSE Group and our other investors on this journey.”
With funeral costs continuing to rise amid the cost-of-living crisis, Aura provides funerals at a fraction of the cost of traditional services.
Their pre-paid funeral plans start at £1,095, where traditional funerals can cost up to £6,000.
Jonathan Day, FSE investment manager, added:“Aura’s innovative approach to funeral planning is combined with an impressive management team and strong market potential.
“They’ve successfully navigated FCA registration, and in just over a year, driven sales of over £2 million of funeral plans alone.
“We believe Aura is well positioned to revolutionise the funeral care industry and provide significant benefits to families across the UK.”
The Coast to Capital Growth Fund is part of the Coast to Capital Funding Escalator, which provides companies with loans and equity funding between £50,000 and £500,000 for activities that will deliver high growth and employment opportunities.
