Working with partners such as insurers or banks, the Swiss-based enterprise SaaS company vlot AG helps end-customers to understand the financial impact of events ranging from illness to marriage and to identify insurance and savings gaps. The financing round enables vlot to accelerate market traction and expansion.
The Swiss-based enterprise SaaS company vlot was founded with the mission to enable families and individuals to make financially responsible decisions. Through B2B partner organizations (primarily insurers, but also brokers, banks and pension funds), vlot helps people to intuitively navigate the jungle of state and employer related social security benefits, and rapidly understand the financial impact of death, disability as well as the lack of adequate retirement funds.
Michael Dritsas, CEO of vlot, says: “At vlot we believe in the importance of life insurance and retirement savings. And we are even more convinced that distribution of life insurance and savings products works best when they are not sold – but bought. Bought by the end-client because his or her coverage needs are clearly displayed, easily understandable, and addressed through the right channel at the right point in time.”
The round was led by Spicehaus Partners (Switzerland) and co-led by SixThirty Ventures (USA), with participation of existing private investors that have supported the company since its inception in 2017.
Dr. Teddy Amberg says: “Spicehaus Partners is looking forward to working with vlot. The team has many years of experience in the insurance sector. Their B2B software enables insurers to quickly and automatically identify customer needs, thereby saving costs and increasing premium volumes.”
Samarth Shekhar, Regional Manager EMEA at SixThirty Ventures, adds: “According to a recent study, the average US life insurance policyholder is 74% under-insured: that’s ~ $70bn of annual premiums in missed opportunity in the US alone. We are proud to be working with vlot – our third investment in Switzerland within two years – on their path to tackling the massive global protection and old age savings gap at scale.”
This financing round of 1 million Swiss francs will allow vlot to expand the product offering, ramp up sales activities and grow its B2B customer base. In addition to the new investment, vlot joined the SixThirty Go-To-Market Program, as one of six participants in the 2020 fall cohort.
(Press release / SK)
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