Olé Life, a leading Latin American InsurTech, has raised $13m in a Series B funding round led by PayPal Ventures.
Other investors participating in the round include Mundi Ventures, AV8, and Advent Morro.
The company, which focuses on redefining financial protection for families in Latin America, offers digital insurance products designed for simplicity and long-term stability. Olé Life plans to use the fresh capital to accelerate its growth by establishing local operations in key markets across the region.
In addition to geographic expansion, Olé Life aims to diversify its offerings beyond life insurance. It plans to introduce new products tailored to the unique needs of Latin American consumers, such as whole-family protection plans and solutions addressing region-specific financial challenges.
Olé Life founder and CEO Michael Carricarte said, “As the first fully-digital life insurance product in Latin America, this funding is a testament to the incredible progress we’ve made in building a platform that resonates with our customers.
“With the support of PayPal Ventures, we are poised to expand our reach beyond USD-denominated term life policies and introduce groundbreaking offerings, such as whole-family protection plans that address the region’s unique needs. This investment is a pivotal step toward transforming how financial protection is delivered empowering millions of families to secure their futures.”
The company has seen significant traction, with over $2bn in total insured value and a network of more than 4,000 distribution partners.
PayPal Ventures principal Alexandros Bottenbruch said, “Olé’s vision of democratizing financial protection aligns with our commitment to supporting innovation that drives inclusion and empowerment. We’re excited to support their journey as they enable broader access to valuable USD-denominated protection and financial savings assets for consumers throughout Latin America.”
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