Specialist finance provider Funeral Safe is continuing its growth trajectory with support from Shawbrook.
Launched in 2016 by professionals from both the funeral and financial services industry, Funeral Safe provides simple, accessible finance to cover funeral costs.
| Client | Funeral Safe |
| Sector | Financial Services |
| Facility | Revolving Credit Facility |
| Funding Need | Re-financing |
| Value | £7.5million |
| Team | Speciality Finance |
| Region | South-East |
2nd May 2023 – Specialist finance provider Funeral Safe is continuing its growth trajectory with support from Shawbrook.
Launched in 2016 by professionals from both the funeral and financial services industry, Funeral Safe provides simple, accessible finance to cover funeral costs.
Traditionally, funerals have been financed via funeral directors using credit brokers to offer finance to individuals. Funeral Safe provides a single source of funding and brings peace of mind to both funeral directors and their clients, taking an empathetic approach with customers to ensure they are treated with sensitivity and transparency.
Shawbrook and Funeral Safe have a long-standing relationship, with Shawbrook providing a block discounting facility of £4m in 2020, since then, Funeral Safe’s loan book and growth has gained them significant market-share. To support Funeral Safe’s ongoing plans for the future, Shawbrook has structured a £7.5m revolving credit facility which replaces the original arrangement and provides an enhanced facility to further support their growth.
Funeral Safe has also recently announced a minority share acquisition by Black Lion Group which will provide a further £3m equity injection for the business. This, combined with the restructure of the facility provided by Shawbrook, will give Funeral Safe an additional funding pool and tools required to scale quickly in line with the team’s growth ambitions.
Robin Hyde-Chambers, CEO of Funeral Safe, said: “We have significant growth ambitions, and finding a supportive and knowledgeable partner like Shawbrook was critical. The team’s ability to offer flexibility and a bespoke package where needed was one of the key reasons we began our relationship with Shawbrook, and the excellent service is why we continue.
“We work in a highly regulated market and therefore need a finance partner that understands the complexities of the sector. We’re confident that this new funding structure will allow Funeral Safe to provide affordable, accessible finance for customers to ensure that we can support them in their most challenging moments.”
Luke Randell, Associate Director at Shawbrook, said: “Funeral Safe provide important funding for a niche market, and help make difficult periods a little easier for clients. We’re looking forward to developing our relationship and seeing how this package unlocks high growth for Funeral Safe moving forward.”
Fieldfisher provided legal counsel to Shawbrook during negotiations with Funeral Safe.
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