PNN
New Delhi [India], October 28: WillJini, India's first and most trusted estate planning and inheritance company co-founded by Jatin Popat, Jugal Popat and Rahul Shah, has closed its first external funding round at a valuation of $3.5 million, raising capital from SPJIMR MBA batchmates, close friends, and channel partners without approaching a single venture capital fund.
The round marks a significant milestone for the Mumbai-based company, which bootstrapped for three years before taking outside capital, growing monthly revenue from ₹3 lakh to ₹50 lakh entirely on client money.
Today, WillJini has served more than 20,000 families across 480 cities and 32 countries, and is the official succession planning partner of HDFC Group, Tata Group, Yes Group, IIFL, Incred and many more.
The Round
The fresh capital came from people who had already watched Jugal and Rahul build the business. 11 SPJIMR batchmates, including Jugal's own roommate from campus, close friends, and a group of WillJini's own MFD channel partners who chose to invest, including 5 influential wealth management companies, signalling strong market validation from within the industry.
"They approached us. They believed in the category before the market did," said Jugal Popat, Co-Founder, WillJini. "Apart from capital, this round brought permission to think bigger."
Investors who participated echo that conviction.
"In my career spanning almost three and a half decades, I have seen more wealth destroyed by the absence of a Will or a trust. Bharat has 1.4 billion people and crores of new crorepatis popping up, but almost no one has a succession plan. WillJini is making Will-making as easy as ordering food online, legal, secure and affordable. This isn't just a fintech, it's a family tech," said Priyesh Sampat, a Mumbai-based Wealth Advisor who invested in WillJini.
Pranav Byatnal, another batchmate and WillJini's first investor, has known Jugal and his co-founder, Rahul Shah, for a decade. “I have seen how they leverage their complementary strengths while working towards a singular vision. This investment was a natural next step.”
The round values WillJini at $3.5 million post-money. The capital will be deployed towards advisory team expansion, technology infrastructure, and geographic growth.
Building in a Market That Still Needs Awareness
The fundraise comes as India enters a period of significant intergenerational wealth transfer. Estate planning remains relatively underpenetrated, even as household wealth grows and families increasingly have to deal with succession across financial assets, property and businesses.
The challenge is particularly complex because inheritance planning in India extends beyond preparing a Will. Families may need to consider nominations, ownership structures, succession arrangements, family relationships and legal processes. The absence of a single point of guidance can make the process difficult for families that have never planned for succession.
Globally, the scale of wealth transfer is also drawing greater attention. EY reported that US$1.3 trillion in wealth (in India) is expected to pass to younger generations by 2030 highlighting the growing importance of intergenerational wealth transfer and succession planning.
A 12-Year Journey Before the First Round
WillJini's story began well before the current wave of interest in estate-tech. Practicing lawyer Jatin Popat, Jugal's father, began receiving requests from CEOs to prepare their Wills. In 2013, he decided to turn what had largely been professional favours into a dedicated business.
The market did not immediately follow. For several years, the company operated in a relatively quiet category where consumer awareness remained limited. Jugal Popat, an SPJIMR MBA and former Swiggy executive, joined the business full-time in 2022, alongside co-founder Rahul Shah, bringing systems and a more structured operating approach to a business that his father had built largely through individual expertise.
The years of building before raising capital have now given the company a base from which to scale.
Creating a Category, Not only Scaling a Company
WillJini's larger ambition is tied to the development of the category itself. Estate planning remains a relatively unfamiliar concept for many Indian households, which means the company has to invest not only in acquiring customers but also in explaining why succession planning matters.
The founders see this as similar to what happened in categories such as online commerce, where early companies had to build consumer trust and behaviour alongside their businesses. WillJini believes the same challenge exists in estate planning: awareness has to increase before adoption can become mainstream.
The Opportunity
Less than 1% of Indians currently have a Will. According to a Julius Baer and EY report, $1.2 trillion in wealth will be transferred between generations in India this decade, most of it without a succession plan in place.
"Estate planning in India today is where insurance was 20 to 30 years ago, low penetration, stigmatised, but inevitable," said Jugal Popat. "We created this category. Our responsibility now is to build awareness around it at scale."
WillJini is on a mission to ensure every household in India has a Will.
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