Mumbai: Legacynext, a one-of-its-kind startup enabling Indians to plan and transfer their inheritance seamlessly, announced to onboard 100 large corporations in 2023.
Legacynext, launched in 2022, is a platform and service combined. It enables any individual to be able to create a digital will in 5-10 mins so that inheritance can be passed on to loved ones in a seamless, cost-effective and fast manner.
The startup, which has already onboarded large companies such as Ultrahuman, L&T Technologies and a couple of the top 5 global tech corporates, aims to reach 100 corporates by the end of the year. This will be done in phases, the management said.
True value-based product in the country: India.
“Ours is a true value-based product that works well for a diverse country such as India. The family construct in India is unique. Each family needs a platform to store and secure their will. Family members deserve the mental peace and security that their loved ones will be taken care of in case they are not around,” said Adarsh Golechha, founder and chief executive officer of Legacynext.
Any Indian or Indian family can buy a subscription and plan their inheritance. Legacynext’s services include a death certificate, financial assets & liabilities transfer/claims, insurance claims, PPF, EPF, Vehicle, utility connections transfers, ITR filing, will probate/ succession certificate, and closing govt ID proofs. Currently, the startup covers around 4,50,000 individuals under its subscriptions.
Since it is a first of its kind, Legacynext is an industry creator for a market size estimated to cover 6 crore Indians. By 2030, this market size is expected to increase to 15 crores (including non-resident Indians), according to published Sources.
Wealth transfer worth USD 1.5 trillion is expected in India by 2030; globally, this market is USD 6.5 trillion. The startup plans to go global with a presence in UAE, Saudi and the USA over the next five years.
With the inheritance tech industry booming, Legacynext has an early mover advantage. Operational streamlining will be key in leveraging the market demand. By creating awareness among youngsters on the importance of inheritance planning, the startup will help individuals create a plan and share it with their families.