Toronto’s Finaeo has announced a $5.35 million funding round, led Luge Capital, supported by RGAX, the transformation unit of global reinsurer RGA, San Francisco-based Rising Tide Fund, iNovia Capital and a strong angel syndicate, led by AngelList Partner, Alex Norman.
The investment had follow-on participation from all previous major investors including Impression Ventures and iGan Partners.
“Over the last three years, we’ve laid the foundation. With this new injection of capital, we can take the next steps toward executing our vision of moving this industry forward,” said Aly Dhalla, CEO and Co-Founder of Finaeo.
“We plan to further invest in product development, customer acquisition and geographical expansion—starting with the US.”
Finaeo’s digital front-end platform enables insurance advisors to sell personalized and curated life insurance products to end customers efficiently across Canada.
The back-end connectivity to insurance carriers will soon enable real-time application submission, real-time adjudication and real-time application status, which will finally enable a customer-centric approach to interacting with the insurance industry.
Leave a Reply