With the fresh capital, Xempus – which until April 2021 was known as Xbav – further expand its market position in Germany. The startup also plans to integrate new product categories, such as corporate health insurance, onto its platform. Furthermore, it plans to establish its own software-as-a-service solutions in other European countries.
“From our point of view, the opportunities to further digitalise the pension and life insurance market are enormous,”
says Christian Resch, Managing Director in Growth Equity at GSAM.
"By 2050, the global pension gap could have widened to $400 trillion. Platforms like Xempus will play a critical role in closing this gap by increasing customer understanding and thus providing them with choice and a high degree of transparency."
The insurtech claims its digital platform connects 18,000 insurance brokers with 60,000 companies and Germany's leading life insurers. The focus is on a seamless exchange of information, which should lead to informed and enlightened customers who can make better, more informed decisions.
“Impressed by the high growth dynamics”
"We have been following Xempus's development for some time and, as lead investor, are now looking forward to working with Tobias, Malte, and the entire Xempus team. We are impressed by the company's strong growth momentum and will support Xempus in further expanding its offering,"
says Alexander Lippert, Executive Director in Growth Equity at GSAM.
"The entire team, as well as the Xempus shareholders, are delighted to welcome Goldman Sachs Asset Management as a new partner on our exciting journey. With the capital we have raised, we now have the opportunity to digitize the European insurance market even faster and thus ensure more innovation in many areas. Ultimately, this means added value for insurers, brokers, businesses, and employees."
leads Tobias Wann, Xempus CEO, further elaborated.
And Malte Dummel, COO & CFO at Xempus adds:
"We have known the Goldman Sachs team for many years. We share a clear focus on our clients' needs and long-term value creation. We look forward to working with the team to shape Xempus's future as a market leader in digital insurance distribution."
The now completed financing round increases the startup's total financing to around 113.5 million euros (125 million dollars). Series C The startup closed over 25 million euros at the beginning of 2020.
