Yulife: from beach to hillside

Huge congrats to YuLife on raising $120M Series C, led by leading insurance company Dai-Ichi Life.

We led the seed round from LocalGlobe in 2017, and followed on in the A led by Creandum, in the B led by Target from Latitude and now in the C: prime example of what we mean by backing surfers all the way from the beach to the hillside.

We’re proud and delighted to continue the journey with Sammy, Sam, Josh, Jonathan, Jaco, and the whole Yulife team on their mission to build financial products for good.

The new capital will broaden YuLife’s reach into new markets and scale its product range, delivering financial products that improve lives and reward wellbeing.

We’re in the midst of a global health crisis, exacerbated by Covid-19, which has meant that there is huge need for YuLife’s group life insurance product.

YuLife’s highly engaging, game-like YuLife app enables YuLife policyholders to complete everyday wellness activities in order to earn YuCoin, which they can use to buy gifts for themselves, friends or family, or to improve the world through planting trees and donating to charity.

What’s astonishing is that over over a third of YuLife customers engage with the company every single day, compared to once a year for the average insurer, and 87% report an improvement in their wellbeing as a result of having YuLife as their insurer.

YuLife now covers >500k policyholders employed across small and large businesses (including our team at Phoenix Court Group), with over £40bn of cover in place.

Love being yu!