German Digital Company Pension & Life Insurance coverage Supplier Xpension raises €25 Million By Collection C Funding Spherical Led By HPE Progress

Xpension, a German digital company pension and life insurance coverage model, introduced on Monday it secured €25 million by its Collection C funding spherical, led by HPE Progress with participation from  Cinco Capital, led by Lars Hinrichs (Founding father of XING and Chairman of Xpension), and Armada Funding.

Based in 2007, Xpension describes itself as an impartial expertise supplier with shared-service options for occupational pension administration and consultancy. The corporate at present has greater than 120 workers members its Munich, Saarbrucken, and Berlin places of work. It was additionally revealed:

“At present, greater than 40 life insurers and gross sales organizations, 11,000 insurance coverage brokers and three,000 SMEs use the Xpension platform. They profit from user-friendly info and buyer journeys, clear and environment friendly processes, and a single SaaS platform to attach all stakeholders. Xpension continues to construct on its robust development momentum with a 4x improve in recurring revenues in 2019.”

The funds from the funding spherical will likely be used for the next:

• Scale-up Xpension’s market-leading company pension & life insurance coverage SaaS platform in Germany
• Develop the providing into non-public pension & life insurance coverage and company medical health insurance
• Put together the rollout of the Xpension platform in chosen European international locations

Talking in regards to the funding, Malte Dummel, CFO of Xpension, acknowledged the financing will additional advance he and his crew’s ambition to “drive the digital transformation within the life insurance coverage business.” Martin Bockelmann, CEO and Founding father of Xpension added:

“This partnership with HPE Progress permits us to unleash the total potential of our platform in Germany and overseas.”