Olé Life raises $13 million

Miami-based Olé Life, which offers life insurance and other financial protection products across Latin America, has raised $13 million in Series B funding led by PayPal Ventures, with participation from Mundi Ventures, AV8 and Advent Morro.

Ole was launched in 2022 and is led by Michael Carricarte. In 1986, Michael and his family established Amedex, which offered medical insurance in Latin America. In 2005, Amedex was acquired by private health insurer Bupa.

Olé Life has more than 4,000 distribution partners and over 6,000 policyholders. The company is authorized to operate as an international insurer and it has reinsurance partnerships with RGA, Partner Re, and Munich Re.