UK-based life insurance provider Yulife has raised £10m ($12.6m) in a series A round that included RGAx, the accelerator subsidiary of reinsurer Reinsurance Group of America.
Venture capital firm Creandum led the round, which also featured Anthemis Exponential Ventures, the joint venture formed by financial services group MMI Holdings and venture capital fund Anthemis, as well as equity crowdfunding platform OurCrowd, MMC Ventures and Notion Capital.
Founded in 2016, Yulife offers a lifestyle life insurance platform that encourages its users to live healthier lives by rewarding them for taking short walks and meditating. The platform provides the user with tokens called yucoin’s which can be exchanged for Avios air miles, vouchers and gift cards.
LocalGlobe led a $3.9m seed round for Yulife in November 2018, investing alongside Anthemis Exponential Ventures and OurCrowd.