yulife secures £10m Series A funding led by Creandum to expand its wellness life insurance platform
The financing round was led by Creandum with participation from MMC Ventures, Notion Capital and existing backers.
yulife is a London based life insurance company that integrates wellness into employee benefits through a mobile application. The firm combines traditional group life cover with incentives that reward everyday healthy habits.
London based life insurance provider yulife has secured £10m in a Series A financing round led by Creandum. Additional backing came from MMC Ventures and Notion Capital, alongside returning investors Anthemis Exponential Ventures, RGAX and OurCrowd. The fresh capital will be directed towards product development and expanding the company reach among businesses.
The raise follows a previous £3m seed round led by LocalGlobe. yulife operates a digital platform that streamlines group life insurance purchasing while engaging members directly via a wellbeing application that rewards physical activity and mindfulness with consumer vouchers and air miles.
From the founder
"It’s been an incredible privilege to work with such a great team building yulife over the past three years and we’re confident that the further funding will allow us to fulfil our vision of making life insurance a force for good. We’re grateful to receive backing from investors with whom we are so deeply aligned, and believe this will help us promote our proposition to inspire lasting, healthy change in people’s lives."
Sammy Rubin
founder at yulife
Investor perspective
"yulife stands out as the first of its kind, integrating gaming, psychology and wellbeing to break new ground in the life insurance industry, helping to better people’s lives, here and now. We are eager to support yulife’s growth and development, and work with the team to progress our shared mission."
Carl Fritjofsson
Partner, Creandum
Use of funds
- 01Continue product development
