Xpension raises €25m series-C round led by HPE Growth  

Existing investors Cinco Capital, led by Lars Hinrichs, and Armada Investment, led by Daniel S Aegerter, also participated in the round.

The company, which provides a software solution for customers to buy and manage insurance online, has so far raised more than €50m in funding. Following the latest round, Tim van Delden, co-founder and partner at HPE Growth, will join Xpension's supervisory board.

The startup will use the fresh funding to scale up its product in Germany, expand its offering into private pension, life insurance and corporate health insurance, and expand into other European countries.

According to the company, it has seen a 4x increase in recurring revenues in 2019.

Previous funding
XBAV raised €2.9m in a series-A round from Cinco Capital in February 2015. This was followed by a series-B round in October 2018, when it raised €24m from Armada Investment and Tom Hulme, general partner at GV, formerly known as Google Ventures.

Company
Headquartered in Munich and founded in 2007, XBAV offers a software-as-a-service for businesses and consumers to buy and manage pension and life insurance online. The platform is used by more than 40 life insurers and sales organisations, 11,000 insurance agents and 3,000 SMEs. The company employs 120 staff in Munich, Berlin and Saarbruecken.  

People
HPE Growth – Tim van Delden (partner).
Xpension – Martin Bockelmann (CEO, founder); Malte Dummel (CFO).

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• Topics
• Expansion
• DACH
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• Insurtech