PolicyMe, an Insurtech startup that helps customers navigate the insurance buying process, has raised a $3.3 million CAD seed round.
The round was co-led by Consorcio – HCS Capital and Westdale Properties. The funds will be used to improve PolicyMe’s life insurance buying process with new technology and financial literacy tools.
“PolicyMe has taken all the right steps to become a leading digital player.”
PolicyMe’s online platform provides a digital experience for customers to navigate the entire insurance buying process, helping Canadians receive tailored advice, compare quotes, and apply for life insurance.
“The life insurance space is ripe for disruption, and PolicyMe has taken all the right steps to become a leading digital player,” said Luis Felipe San Martin, managing partner of HCS Capital. “By offering personalized and honest advice, along with a seamless customer experience, Andrew and his team are laying the foundation for what we expect to be the future of the industry.”
A spokesperson from PolicyMe told BetaKit this is the startup’s first institutional raise, and that its only other raise was a family and friends round. The company was founded by Andrew Ostro, Laura McKay, and Jeff McKay in 2018, and is based in Toronto.
StartUp HERE Toronto is a publishing partner of Betakit and this article was originally published on their site.