Bestow, an insurtech company known for simplifying life insurance, has recently secured $120 million in a Series D investment round. This funding is split into $75 million in primary capital and $45 million in secondary investments, indicating strong confidence from investors.
The round was co-led by a unit of Goldman Sachs, which is noteworthy given the firm's reputation in the investment space. This involvement highlights the growing interest from major finance players in the insurtech sector, which aims to modernize and enhance traditional insurance processes.
With this significant influx of capital, Bestow plans to further develop its product offerings and technology. The company focuses on making life insurance more accessible and user-friendly, which aligns with current trends in the financial technologies sector.
This funding round could have broader implications for the insurtech industry as a whole. As traditional insurance companies face challenges from digital-first startups, additional investments push innovation and competition within the market. Companies like Bestow are positioned to thrive with the right financial backing, which could lead to better customer experiences across the board.
The $120 million Series D funding for Bestow demonstrates continued investor interest in the insurtech space, particularly from influential firms like Goldman Sachs. It opens the door for Bestow to enhance its offerings, potentially influencing the way life insurance operates in the future.
Original Source: https://www.techinasia.com/news/goldman-sachs-unit-coleads-120m-series-insurtech-firm-bestow