YuLife

History

2021: Raising $70 million

In mid-July 2021, insurtechstartup YuLife raised $70 million as part of the investment round of series B. The round was headed by a Russian fund, Target Global and new investors Euraseo and Latitude, as well as existing Creandum, Notion Capital and Anthemis, also invested in the startup.

YuLife plans to use the raised capital to offer new life insurance opportunities, launch new products, expand its presence in the UK, and enter new international markets.

The life insurance industry is ripe for transformation. For too many years, life insurance has focused exclusively on providing a lump sum payment in the event of death, "said Sammy Rubin, CEO and founder of the YuLife.

Russian Target Global has invested in a platform for employee insurance YuLife

Rubin explained that it was time to rethink the very nature of life insurance, putting "life" in the first place. The company wants customers to use insurance as a tool to improve their physical, mental and financial well-being.

A new view on group life insurance is only the beginning of the YuLife path, as we strive to inspire life with the help of a wide range of new insurance products, Rubin added.

YuLife also encourages healthy lifestyles by offering employees discounts from leading brands such as Amazon and Asos when performing wellness activities such as cycling, walking, mental practices.

When employees participate in activities aimed at a healthy lifestyle, they are awarded with YuCoin, a virtual currency YuLife that can be used to buy discounts and vouchers with startup partner brands.

Target Global partner Ben Kaminski noted that YuLife is in an ideal position to increase its ten-fold growth during the pandemic and be a leader in helping its customers solve problems associated with an ever-changing work environment.^[1]

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