Xpension raises €25 million
Munich-based xbAV AG, a technology provider for pensions and life insurance, has raised €25 million in a Series C round led by HPE Growth, with participation from existing investors Cinco Capital and Armada Investment. The new round brings Xpension’s total funding to ~$57 million.
Founded in 2007, Xpension’s SaaS platform provides a shared service interface between insurers, insurance agents and customers to sell and manage pension & life insurance policies. Currently, more than 40 life insurers, 11,000 insurance agents and 3,000 SMEs use the platform.
“The move online of the €2.5trn global pension & life insurance industry is a huge topic. A SaaS platform like Xpension – which connects life insurers, agents and their corporate and private customers to buy and manage policies – will be a game changer. The platform’s rapid growth highlights both the strength of the underlying demand as well as the team’s impressive execution to date, and we are excited to further support Xpension with our resources and expertise.” – Tim van Delden, Partner at HPE Growth.
“Our vision is to enable every person to get the right pension & life insurance protection for themselves and their family. After several years of intensive R&D and broad-based user acquisition, this partnership with HPE Growth allows us to unleash the full potential of our platform in Germany and abroad.” – Martin Bockelmann, CEO and founder of Xpension.