Inclined, a San Francisco, CA-based financial technology company that aims to democratize a $150 billion market by helping consumers enhance the value of their life insurance policies, announced that it closed $15 million Series A funding.
HSCM Ventures led the round, with participation from Anthemis Group and several new and existing investors.
Funding will fuel the fintech startup's mission to help whole life insurance policyholders realize more value from their investment. Inclined's initial focus is to work with whole life advisors to offer policyholders a secured, revolving line of credit collateralized by the cash value in their whole life policy within a fully automated experience.
As Inclined experiences an increased demand for its technology, the funds will also be used for investments in its marketing and business development teams and to evaluate tangential opportunities for expansion.
"Inclined is a mission-driven company that provides solutions to help policyholders access their savings in a more efficient and cost-effective way," said Inclined's CEO and co-founder Joshua Wyss. "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."
Vikas Singhal, Partner at HSCM Ventures, will join the Inclined Board of Directors.
Company: Inclined Technologies, Inc.
Round: Series A
Funding Month: September 2022
Lead Investors: HSCM Ventures
Additional Investors: Anthemis Group
Company Website: https://www.inclined.com/
Software Category: Financial Platform
About the Company: Founded in 2020, Inclined is a SaaS software company focused on driving better long-term outcomes for whole life policyholders. Inclined gives policyholders quick and efficient access to the equity in their whole life insurance. Inclined's first-of-its-kind platform solves two market problems: acquiring and structuring raw data from whole life carriers and efficiently managing collateral to transfer assets at scale to financial institution partners. Through its proprietary technology platform, Inclined manages customer acquisition and enables a network of banks to originate the lines as a turnkey line of business. Inclined handles insurance assignment and collateral perfection while servicing the lines. Inclined collaborates with a network of financial institutions drawn to the asset's quality, the borrower's demographics, and the ability to strengthen their policy and financial picture. Inclined is headquartered in Sausalito, CA.