PolicyMe, a Canada-based insurtech startup, recently announced it secured $3.3 million through its latest investment round, which was co-led by Consorcio – HCS Capital and Westdale Properties. Founded in 2018, PolicyMe is on a mission to simplify life insurance, offering customized, and automated advice for life insurance needs.
“We strongly believe that life insurance is fundamental to a sound financial plan. It ensures that your family can replace lost income to pay for key expenses, eliminate debt, pay for college, or address other financial goals in the unfortunate circumstance that you pass.”
Speaking about the company’s dedication to the Canada insurance market, Andrew Ostro, CEO and Co-Founder of PolicyMe, stated:
“We see far too many Canadians make misinformed decisions when buying life insurance. They often overprotect with expensive policies that are not aligned with their needs or avoid coverage altogether. It’s really a shame, because providing your family with financial protection is an extremely important and selfless act. When personalized correctly, the right life insurance policy adds a ton of value at a very affordable price.”
PolicyMe added that the funds will be used to enhance its life insurance buying process with new technology and financial literacy tools.