Xempus inks $70m in Goldman Sachs-led Series D

InsurTech Xempus has bagged $70m in funding from a Series D financing round led by Goldman Sachs Asset Management.

Also participating in the round were HPE Growth and Cinco Capital. Following this round the company has raised a total of $125m since its inception.  

According to FinTech Finance, Xempus sells more than 100,000 new policies through its per year and connects 18,000 insurance agents, 60,000 corporates and leading life insurers.

Since March 2020, the firm has signed more than 15 leading life insurers as new platform customers, helping generate approximately €7bn in secured future revenue for insurers, added more than 7,000 new insurance agents and helped agents earn more than €200m in commissions.

Xempus claims it intends to use the proceeds to broaden its policy sale and management offering in Germany, add new product verticals to the platform and roll out the Xempus platform in additional European countries.

Xempus CEO Tobias Wann said, “The management team and shareholders are excited that Goldman Sachs is joining us on our journey. “This funding allows us to further accelerate our pace as we innovate and tech-enable the insurance market in Europe, delivering better value to insurers, agents, corporates and employees.”

Copyright © 2022 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.