Puerto Rican insurtech Olé Life raised a $13M Series B round led by PayPal Ventures. Mundi Ventures, AV8 Ventures, and Advent-Morro Equity Partners.
Olé Life is a digital-first insurer specializing in life coverage that offers USD-denominated insurance policies with fixed premiums. Olé Life uses AI to streamline purchases, enabling users to buy policies up to $1M in under 10 minutes.
Olé Life will use the funds to expand in Latin America and launch new products beyond life insurance.
“With the support of PayPal Ventures, we are poised to expand our reach beyond USD-denominated term life policies and introduce groundbreaking offerings, such as whole-family protection plans that address the region’s unique needs,” said Olé Life’s founder and CEO Michael Carricarte.
Olé Life insures over $2B across more than 30 countries.
Read more on Insurtech Insights and LinkedIn.