Insurtech Xempus secures 70 million US dollars

In a Series D financing round, the start-up was able to win investment bank Goldman Sachs as an investor.

The Munich-based insurtech Xempus has raised 70 million US dollars in its current financing round. This brings the total funding to $125 million. The D round is led by Goldman Sachs Asset Management (GSAM). Existing investors led by HPE Growth and Cinco Capital are also investing again.

Martin Bockelmann founded the startup in 2007. Xempus is a software-as-a-service platform with products related to retirement planning. The platform aims to bring together players in the pension and life insurance industries. It said the platform already connects 18,000 intermediaries with 60,000 companies and life insurers. The company says it closes 100,000 new retirement plans annually.

"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 places," said Tobias Wann, CEO of Xempus. With the new funding, the start-up plans to consolidate its market position in Germany on the one hand, but also expand into other European countries. In addition, the company wants to integrate new product categories such as company health insurance on its platform.