InsurTech Xpension nets €25m in Series C round led by HPE Growth

German InsurTech Xpension has raised €25m in a new Series C round led by growth investor HPE Growth.

As part of the deal, Tim van Delden, co-founder and partner at HPE Growth, will join Xpension’s supervisory board.

“A SaaS platform like Xpension – which connects life insurers, agents and their corporate and private customers to buy and manage policies – will be a game changer,” said van Delden. “The platform’s rapid growth highlights both the strength of the underlying demand as well as the team’s impressive execution to date and we are excited to further support Xpension with our resources and expertise.”

Existing investors Cinco Capital and Armada Investment also participated in the new capital injection.

Xpension will use the money to scale its corporate pension and life insurance SaaS platform in Germany, expand the offering into private pension and life insurance and corporate health insurance, and to prepare the rollout of the Xpension platform in selected European countries.

Currently, more than 40 life insurers and sales organisations, 11,000 insurance agents and 3,000 SMEs use the Xpension platform.

Martin Bockelmann, CEO and founder of Xpension, added, “Our vision is to enable every person to get the right pension & life insurance protection for themselves and their family. After several years of intensive R&D and broad-based user acquisition, this partnership with HPE Growth allows us to unleash the full potential of our platform in Germany and abroad.”

Copyright © 2020 FinTech Global

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