YuLife secures £50m Series B funding led by Target Global to scale operations.
Target Global led the £50m Series B round to support product development and global expansion.
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.
YuLife has secured £50m in a Series B funding round led by Target Global to support its ongoing expansion. The investment will enable the tech-driven insurance provider to develop new products and scale its presence across the UK and international markets.
The raise included participation from new backers Eurazeo and Latitude, alongside returning investors Creandum, Notion Capital, Anthemis, MMC Ventures, and OurCrowd. The injection of capital follows a period of rapid growth for the company, which has seen its gross written premiums increase tenfold over the past year while providing cover for prominent corporate clients.
The firm aims to reshape the life insurance sector by prioritising preventive health and daily wellbeing alongside traditional financial protection. By rewarding policyholders for healthy habits such as walking and mindfulness, YuLife seeks to provide lasting value to employers and employees alike.
From the founder
"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,"
Sammy Rubin
founder at yulife
Investor perspective
"With health and wellbeing increasingly thrust into the limelight in the wake of Covid-19, YuLife is fundamentally changing insurance by incentivizing people to lead healthier lifestyles. YuLife is ideally positioned to build on its tenfold growth during the pandemic and lead the way in helping its clients respond to the challenges posed by an ever-changing working environment. We are very proud to partner with YuLife on its journey of becoming a global leader in life insurance."
Ben Kaminski
Partner, Target Global
Use of funds
- 01Continue product development
- 02Expand into international markets
