Canadian InsurTech Emma has closed a $6m Series A funding round led by prominent Canadian investors Luge Capital, Investissement Québec, and Tactico.
In its push to disrupt the insurance industry, Emma said it will use the funds to provide its insurance products in all Canadian provinces, double the size of its current team, and build new products.
Thanks to its strategic partnership with the insurance company Humania Assurance, Emma is able to build its own insurance products. While the startup currently offers life insurance in Canada, it is also looking to bringing more inclusivity and accessibility with a series of new products.
A year after taking part in the inaugural cohort of Intuit Prosperity Accelerator, Emma said it has grown by more than 500% and is now looking to help even more Canadian families get the right life insurance coverage.
Felix Deschatelets, Emma’s CEO and co-founder, said, “It’s no secret that the demand for truly modern life insurance products has skyrocketed in the past years. With seasoned investors, strong partners, and a talented team, we now have the means to fulfil our ambitions and become families’ most loved insurance solution.”
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