SaaS insurtech platform based in Munich Xempus raised $70 million in a Series D funding round led by Goldman Sachs Asset Management. The new capital will be used to further expand the product line, including the imminent launch of a corporate health insurance service. Additionally, Xempus aims to strengthen its position in the domestic market while expanding to other European outposts.
With all the wonder Deliveroo can bring to our doorsteps at seemingly breakneck speeds, it’s a bit of a wake-up call to realize that companies like Xempus, whose mission statement is “to digitize pensions for insurers, agents, companies and employees”, do not even exist at all.
Has apparently, ‘can’t this already been done?’ question which obviously has not found an answer. Again.
Speaking of these pandemic-related “advancements,” as demonstrated by Xempus, its digital insurance delivery solutions have also seen an uptick. Since March 2020, the company says it has welcomed more than 15 life insurers on board as customers, added more than 7,000 new insurance agents, who have earned more than 200 million euros in commissions, only seen positive numbers in the annual subscription revenue department and its ARR more than doubled in 2021.
“We have known the Goldman Sachs team for many years,” says Xempus CFO and COO Dummel of Malta. “Goldman Sachs and Xempus share a relentless focus on customer 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, Malta and the entire Xempus team to lead the D-series. We have been impressed with the strong growth momentum of the business and look forward to help Xempus further expand its offering,” commented Goldman Sachs. Alexander Lippert.