YuLife Raises Record $70M Series B round to reinvent life insurance
YuLife, the tech-driven insurance company on a mission to inspire life, today announced that it has raised a $70m Series B in one of Europe’s largest insurtech funding rounds in life insurance.
The round was led by Target Global and supported by new investors Eurazeo and Latitude as well as existing investors Creandum, Notion Capital, Anthemis, MMC Ventures, and OurCrowd. YuLife will use the capital to develop new products, expand its UK market penetration, and broaden its reach into new global markets.
“The life insurance industry is ripe for transformation. For too many years, life insurance has focused solely on paying out a lump sum upon death. It is now time to reimagine the very nature of life insurance by putting ‘life’ first, and inspiring members to live their best lives every single day, using insurance as a tool to enhance their physical, mental and financial wellbeing,” said Sammy Rubin, CEO and Founder of YuLife. “Redefining group-life insurance is just the start of the journey for YuLife as we look to inspire life through a vast range of new insurance products.”