Munich-based insurtech SaaS platform Xempus has raised $70 million in a Series D funding round led by Goldman Sachs Asset Management. The new capital will be used to further flesh out the product lineup inclusive of the imminent launch of a corporate health insurance service. Additionally, Xempus aims to strengthen its market position at home while at the same time expanding to additional European outposts.
With all the wonders that Deliveroo can bring to our doorsteps at seemingly breakneck speeds, its a bit of a wake-up call to realise that companies such as Xempus, whose mission statement is, “ to digitise pensions for insurers, agents, corporates, and employees,” even exist at all.
A seemingly, ‘can’t that already been done?’ question that obviously hasn’t been answered. Yet.
Speaking of those pandemic-driven ‘advancements’, as demonstrated by Xempus, its digital insurance distribution solutions has seen an uptick as well. Since March 2020, the company reports welcoming over 15 life insurers aboard as customers, added more than 7,000 new insurance agents, who have earned upwards of €200 million in commissions, seen nothing but positive numbers in the annual subscription revenue department, and its ARR more than double in 2021.
“We have known the Goldman Sachs team for many years,” says Xempus CFO and COO Malte Dummel. “Goldman Sachs and Xempus share the same unwavering focus on client service and long-term value creation. We are thrilled to partner with the team as we continue to build a leader in digital insurance distribution.”
“We have been following Xempus for some time and are delighted to partner with Tobias, Malte and the entire Xempus team to lead the Series D. We have been impressed by the company’s strong growth momentum and look forward to helping Xempus expand its offering even further,” commented Goldman Sachs’ Alexander Lippert.