Fintech startup Inclined has announced it has raised $15m in a Series A funding round. HSCM Ventures led the round, with participation from Anthemis Group alongside several new and existing investors.
The company states that the funding will fuel its mission to democratise a $150bn market by helping consumers significantly enhance the value of their life insurance policies.
Inclined’s CEO and co-founder, Joshua Wyss commented, “Inclined is a mission-driven company that provides solutions to help policyholders access their savings in a more efficient and cost-effective way.”
“We are excited to partner with HSCM Ventures and the rest of our investors to tackle the $1 trillion opportunity in whole life cash value access.”
“With this capital, we will continue to improve the way people access the equity they have built in their whole life policy, while serving as a trusted technology partner to whole life carriers and financial institutions across the US. This is a market that has yet to benefit from modern technology.”
Additionally, Vikas Singhal, Partner at HSCM Ventures, will be joining the Inclined Board of Directors.
He added, “We strongly believe in the Inclined mission and are excited to partner with the team.”
“Inclined is engaging carriers, policyholders and lenders in a very aligned and coordinated manner and we see policy loan refinancing as just the beginning of what can be unlocked through those integrated relationships.”
Inclined affirmed the funds will also be used for investments in its marketing and business development teams and for evaluating tangential opportunities for expansion.