(Image source: YuLife homepage.)
YuLife, a tech-driven financial services brand with the stated mission mission of inspiring life, has announced that funds and accounts advised by T. Rowe Price Associates, Inc. (Baltimore) have joined as investors in the company, having participated in YuLife’s recent Series C funding round.
YuLife says the investment, along with funds from the company’s existing investors, will support YuLife in its planned expansion into the U.S. market. In July 2022, YuLife reported that it had raised a $120M Series C led by Dai-ichi Life(Tokyo), bringing the company’s total funding to $206M since its founding in 2016. YuLife reports that it has grown rapidly, characterizing its progress as happening in an industry slow to innovate and amounting reshaping financial services by putting life first and inspiring people to live their best lives every single day. YuLife says that, following this latest investment, it plans to expand its operations to new markets and broaden its offering to encompass more types of financial and insurance products, tailored to individuals’ needs.
“We are thrilled to welcome the T. Rowe Price investors, who will support our continued development along with our existing investors,” comments Sammy Rubin, CEO and Founder, YuLife. “Since the very beginning, YuLife has sought to fundamentally change the nature of life insurance by providing life-enhancing experiences, and our investors have been instrumental in getting us to where we are today.”
“YuLife has distinguished itself from others through its ability to grow rapidly while still keeping up with dynamic market demands, coupled with a customer-centric mentality,” says Zenon Voyiatzis, investment analyst, T. Rowe Price. “It is clear to us that businesses and employees see both short- and long-term benefits from using YuLife’s products.”