YuLife has raised £95m in a Series C led by Dai-ichi Life Holdings, a new strategic investor in the company.
As a result of the investment round, which was supported by YuLife’s current investors, the firm has now received around £170m in funding since its founding in 2016. Prior investors in the round include Creandum, LocalGlobe, Target Global, Latitude, Anthemis, OurCrowd, Notion, MMC, and Eurazeo.
In order to deliver financial solutions that enhance lives and reward wellbeing, YuLife will use the money to scale its product offering and expand its presence into new international markets. This advances the company’s goal of making financial services a positive force for society.
YuLife CEO and founder Sammy Rubin says: “Insurance has the potential to achieve tremendous social good. Unusually for financial services, our product creates a deep alignment of interests between the insurer, the company and the individual. We believe that wellbeing must be holistic, and we are committed to building a global financial services brand that can change the lives of millions of people across the world.”
“Companies that choose YuLife are making a statement that they care deeply about their employees. Now more than ever it is important for companies to go above and beyond to build a culture of care in the workplace, as traditional benefits packages just do not do the job. Our proposition addresses a vital business need exacerbated by the Covid-19 pandemic and the ‘Great Resignation’.”
Dai-ichi Life Holdings director and managing executive officer Toshiaki Sumino says: “Dai-ichi Life is committed to supporting companies that have a proven track record of changing people’s lives for the better, and YuLife does exactly that, by bringing tangible value to financial products to bolster individuals’ wellbeing. YuLife has immense potential to build on its achievements to date, and we are thrilled to invest and help propel YuLife towards its next steps and scale its global operations. YuLife shares our ethos of harnessing the latest trends in technology to make a genuine difference to the lives of those using financial products.”
