Tomorrow raises up to $5.9m in latest funding round

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

Seattle-based personal finance and insurance platform Tomorrow Ideas has raised up to $5.9m in its latest funding round.

The company is looking to raise $7.7m, and has already picked up contributions from 37 investors, according to a US securities and exchange commission filing.

It is unclear who has contributed to this new round of funding. Last year, the company raised a $2.6m seed round from investors including Maveron, CFSI, Echelon Capital, Clocktower Technology Ventures, Allianz Life, Plug and Play, Flying Fish Partners, Curious Capital, and angel investors.

Tomorrow helps consumers with their financial future by creating a will, getting life insurance and building a trust. Through the platform, a user lists their major assets, personal belongings and major debts to organise in a will or trust. Pictures of the objects can also be used to assign to a person to receive after the owner has passed.

The platform is currently used in 47 states and provides insurance policies from nine insurers. The mobile app, which is available on Android and iOS, provides comparison tools for insurance policies, to ensure the best term life insurance is acquired.

Last year, the marketplace lending companies received the biggest share of funding in the US FinTech market, picking up 25 per cent of the total deal value. The second biggest area for funding was infrastructure and enterprise software companies, which received 20 per cent of the total investments.

Copyright © 2018 FinTech Global

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