View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
August 11, 2021

Start-up Afilio gains $13m in Series A funding

By Patrick Brusnahan

Germany-based insurtech Afilio has secured $13m in Series A funding to expand its “peace of mind-as-a-service” platform.

Free Report
img

Do Innovative Companies Outperform?

Amid the wildly disruptive business landscape, companies are innovating for a more durable source of competitive advantage. As this typically does not show up on their traditional financial statements, a company’s true potential can be grossly undervalued by relying exclusively on these. We believe that quantifying their innovation capacities is the key valuation input needed to identify outperformers. Our latest whitepaper, based on GlobalData’s proprietary Patents Database, evaluates companies’ intellectual capital as a vital factor in differentiating their offerings as well as driving future growth. Access the report to understand:
  • How are disruptive forces accelerating trends in innovation?
  • Why do traditional approaches to company analysis fall short in fully capturing companies' potential?
  • How can patents be leveraged to build portfolios that capture innovation-alpha?
Download the full report to align your strategies for success and get ahead of the competition.
by GlobalData
Enter your details here to receive your free Report.

The round was led by CommerzVentures and it was joined by Speedinvest, Cherry Ventures, and Cavalry Ventures.

Afilio offers digital estate management services through a platform that allows users to select insurance, manage policies and store documentation relating to personal estates.

Furthermore, Afilio software provides personalised expert recommendations for insurance cover which can be up to 15% cheaper than comparison websites. users can also create and officially register legal documents with Afilio Plus, including living wills, power of attorney, and pension provisions.

The funding will be used to expand the platform and develop offerings. It will also be used for expansion into international markets alongside a recruitment drive.

Till Oltmanns, co-founder and CEO of Afilio, said: “Afilio was founded on the premise that everyone, regardless of their age or familiarity with digital services, should have access to simple, transparent, and affordable insurance and legal protection for themselves and their loved ones.

“We empower our users with the knowledge and products they need to plan for all of life’s eventualities, and as a team we’re committed to broadening the platform to encompass all aspects of personal estate management. With over 2 million registered users on our platform, we’re looking forward to supporting even more families to protect themselves and their loved ones from their first job to retirement.”

Paul Morgenthaler, partner at CommerzVentures, added: “Afilio is an exciting example of innovative technology that can make complex and stressful legal and insurance processes manageable for consumers. With huge scope to add on additional services including retirement planning and care provisions, this new funding round will allow Afilio to continue in their mission to democratise access to affordable and transparent whole life cover.”

Aflio was launched in 2017 and saw its active subscription volume grow 611% year-on-year in 2020. It also provided access to digital document creation and advice for two million registered users.

Free Report
img

Do Innovative Companies Outperform?

Amid the wildly disruptive business landscape, companies are innovating for a more durable source of competitive advantage. As this typically does not show up on their traditional financial statements, a company’s true potential can be grossly undervalued by relying exclusively on these. We believe that quantifying their innovation capacities is the key valuation input needed to identify outperformers. Our latest whitepaper, based on GlobalData’s proprietary Patents Database, evaluates companies’ intellectual capital as a vital factor in differentiating their offerings as well as driving future growth. Access the report to understand:
  • How are disruptive forces accelerating trends in innovation?
  • Why do traditional approaches to company analysis fall short in fully capturing companies' potential?
  • How can patents be leveraged to build portfolios that capture innovation-alpha?
Download the full report to align your strategies for success and get ahead of the competition.
by GlobalData
Enter your details here to receive your free Report.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International