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Enhancement of Policygenius Raises $125M in Series E Funding

Policygenius, a technology-enabled insurance distribution service, has raised $125 million in fresh capital investment, increasing the company’s total financing to more than $250 million.

The fresh funds will be used to expand the company’s primary operations of life, disabilities, house, and car insurance, in addition to introducing new no-exam life coverage options and Policygenius Pro.

Policygenius President and Co-Founder Jennifer Fitzgerald stated in a corporate news release, over the recent eight years Policygenius Raises $125M in Series E Funding, we’ve invested in crucial areas of technology, business, and project management to achieve the greatest outcomes for our consumers, providers, and distributors. We are pleased to extend our already extensive reach throughout the trillion-dollar insurance business with the help of new and returning investors.

The round included participation from all current key investors, including KKR, Norwest Investment Firm, and Revolution Ventures. Among the new investors were major North American annuities and life health insurers Policygenius Raises $125M in Series E Funding, including Brighthouse Finance, Global Atlantic Financial Group, iA Financial Group, Lincoln Financial, and Western Life. These carriers’ investments were accompanied by further investments from existing shareholders such as AXA Angel Investors and MassMutual Investments.

ORIX Corporation USA’s Expansion Capital division offered a new credit facility for the firm to assist finance its growth as part of the financing round, while Policygenius mortgaged its senior executive financial assistance with Morgan Stanley.

Policygenius is a technological platform that permits customers to compare and buy insurance. It has created partnerships with insurance providers and developed a unique technology for advertising, underwriting, and fulfillment since its inception in 2014.

The company confirmed the debut of its Policygenius Pro service earlier this year, which provides the Policygenius life insurance technology to B2B distributors and retailers.

Policygenius, which was founded in 2014, is a one-stop digital platform that allows users to analyze and buy health insurance. It integrates with a variety of insurance carriers and uses advanced products for quotation, processing, and execution.

Policygenius Pro, a comprehensive partnerships platform that enables insurance agencies and financial experts to expedite and streamline life insurance sales, was just introduced.

Since closing its $100 million Series D round in 2019, Policygenius has upped its development in combined no-exam life insurance options to address Covid’s impact on quality of life coverage medical examinations and improve client experience. Its no-exam life insurance agency has risen 30-fold in volume during the last two years.

The business issued $40 billion in new insurance products, roughly 70% more than it did in 2019. Jennifer Fitzgerald, CEO, and cross of Policy genius Raises $125M in Series E Funding stated, “Throughout the last eight years, we’ve concentrated in crucial areas like technology, management, and product innovation to offer the greatest results for our clients, carriers, and marketing partners.

We are pleased to expand our already extensive reach throughout the trillion-dollar insurance business with the help of both new and existing donors. Consensus, a blockchain solution provider, received the largest investment, boosting it to a $7 billion value with a $450 million investment. This week, PayTechs witnessed some high-value transactions, with DailyPay raising $300 million and Stax raising $245 million.

The new shares will be transformed into ETH to rebalance the ETH-to-USD-equivalents ratio in accordance with ConsenSys’ treasury policy. ConsenSys has a sizable treasury of ETH, stablecoins, and other crypto tokens and is putting them to use in Defi technologies and through staking utilizing its own institutional framework.

This cash investment will also help it accelerate the growth of MetaMask, its personality wallet. It is planning a substantial overhaul for this year, as well as the release of a plug-in extension framework that will allow integration with a variety of blockchain technologies and schemes.

It also intends to accelerate worldwide acceptance of its development tool suite and NFT adoption for artists, content producers, brands, creative private owners, gaming companies, and professional sports.

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