March 26, 2019 / PRWeb/ – Today, Finaeo announces a $5.35M funding round, led by fintech-focused investor Luge Capital, supported by RGAX, the transformation unit of global reinsurer RGA, San Francisco based Rising Tide Fund, inovia capital and a strong angel syndicate, led by AngelList Partner, Alex Norman. The investment had follow-on participation from all previous major investors including Impression Ventures and iGan Partners. The diverse group of investors provides Finaeo unparalleled access to both strong capital partners and the right industry support to continue building towards their long-term vision.
“Over the last three years, we’ve laid the foundation. With this new injection of capital, we can take the next steps toward executing our vision of moving this industry forward,” said Aly Dhalla, CEO and Co-Founder of Finaeo. “We plan to further invest in product development, customer acquisition and geographical expansion—starting with the US.”
Finaeo’s vision is to become the digital fabric that connects and powers the life insurance industry by building a digital network of insurance carriers around the world. Digitizing the experience for all stakeholders is core to realizing that vision.
“The life insurance industry has been very slow to evolve,” said Karim Gillani, General Partner at Luge Capital. “Finaeo’s mission is to build the plumbing that digitizes the insurance industry for both advisor-assisted and self-serve experiences. They’re building Amazon for insurance products, and the Finaeo team has the right pedigree to orchestrate that mission.”