We are thrilled to announce that we have secured $43 million in our recent series B round of funding. There was a strong interest in the raise, that took place before and during COVID-19 and given the instability of the global economy, this significant investment is further endorsement of the importance of our digital-led approach.
The majority of the capital has come from institutional funds managed by Schroder Investment Management (Switzerland) AG, a member of the Schroders group (“Schroders”), with support from existing institutional shareholders Leadenhall Capital Partners and Daido Life, and smaller parcels coming from Australian and International sophisticated investors.
Chairman Eric Dodd, said of the investment “We’re thrilled to have the confidence and backing of Schroders, who have recognised that our approach to Life Insurance in Australia is changing the game. Our ethos of ‘digital when you want it, human when you need it’ allows us to marry the convenience of technology with an empathetic approach that guides everything we do. In an industry that is crying out for innovation, we’re excited that this injection will enable us to bring more Australian firsts and step-change improvements to both the financial adviser and customer experience”.
Scott Mitchell, Portfolio Manager for Life Insurance Linked Securities at Schroders said, “We are excited to support Integrity Life in its next phase of growth as it continues to strengthen its position in the Australian life market. The investment provides Schroders’ investors with a rare opportunity to support a digital-focused business that provides access to diversifying life insurance risks, such as mortality, critical illness and disability.”
The money will be used to support the expansion of our operations and continued development of our digital-led insurance offering.
Eric Dodd continues “we are on a growth trajectory, despite the backdrop of COVID-19 and a possible global recession, our low-cost operating model and flexible technology systems give us a significant advantage to adapt and pivot to keep pace with change. We are very excited about the future and what we’ll be bringing to market”.
We would like to take this opportunity to thank all our customers, partners and investors who have helped us achieve this significant milestone. You support means a lot to us and allows us to continue to disrupt the industry and improve life insurance in Australia!
From the newsroom