MMC backs life insurance company, yulife, in £10 million funding round
MMC Ventures has backed yulife, the life insurance company which puts wellbeing at the heart of its insurance offering. The business announced today that it has secured £10 million in Series A funding.
The round was led by Creandum Funds, backers of Spotify, iZettle and depop and other investors included Notion Capital, Anthemis Exponential Ventures, RGAX and OurCrowd.
yulife is on a mission to breathe life back into life insurance by rewarding people for living
well now, whilst protecting their loved ones in the future. The yulife app encourages members to complete simple wellbeing activities, such as walking or meditation, by rewarding them with Avios air miles, vouchers and gift cards from partner brands including Amazon and ASOS.
yulife was founded in 2016 by serial entrepreneur Sammy Rubin, who said,
“It’s been an incredible privilege to work with such a great team building yulife over the past three years and we’re confident that the further funding will allow us to fulfil our vision of making life insurance a force for good. We’re grateful to receive backing from investors with whom we are so deeply aligned, and believe this will help us promote our proposition to inspire lasting, healthy change in people’s lives.”
Read more on this story via The Telegraph and Verdict.
Or dig into what makes this purpose-led team so unique with Oliver Richards piece 'Love being yu — our investment in yulife'.