Amplify Life Insurance raises $ 2.5 million in funding
Amplify life insurance, a digital permanent life insurance platform based in San Francisco, Calif., has raised $ 2.5 million in seed funding.
The cycle was led by Anthemis with the participation of Transverse Ventures Fund.
The company intends to use the funds to continue to expand its business and commercial reach.
Launched in 2019 by co-founders Qiyun Cai and Hanna Wu, Amplify has provided a platform that offers life insurance products where clients can access tax-free investments in their policy to use for retirement, student loans , a down payment – while providing lifetime protection. Additionally, the platform offers policy customization, streamlined underwriting, and an educational customer journey.
After incorporating in September 2019, Amplify increased its pre-seed cycle in March 2020. They launched their initial platform for clients and started generating early revenue in January 2020. Since then, the company has submitted several seven-figure annual premiums and is directly contracted with several major life insurance companies.