Old Mutual acquires digital will start-up

We're excited to announce that NEXT176 has completed an outright acquisition of tech start-up, Online Wills (Pty) Ltd, trading as QuickWill.

This acquisition will enable Old Mutual to offer a more comprehensive digital wills solution to financial advisors and business partners as an extension of the service already offered free of charge to the broader South African public.

With a staggering 70% of South Africans passing on without a valid will, Old Mutual's Strategic Investment and Venture building business, Next176 (PTY) LTD saw an opportunity to change the game and bring innovation to the digital space.

Their accelerated venture building team already produced staggering results, with over 50,000 registered users and 10,000 finalized wills in just a few months. The Acquisition of the South Africa Online Wills Start-up business allows for affordable, pre-underwritten risk protection to be offered to families in the event of death.

As Vuyo Mpako, MD of NEXT176, Old Mutual Limited, puts it, this acquisition is not just about financial gain, but about playing a crucial role in positively impacting the lives of South Africans. Without a will, the distribution of assets and the guardianship of minor children can be left to the mercy of the courts, leading to devastating consequences and emotional distress for families. But with a will, we have the opportunity to lead financial education and empower the customers. If we keep doing the right things, the value will flow.