Even Financial, the financial services search API that enables programmatic and native customer acquisition, has acquired SF-based LeapLife, the insurtech platform and digital life insurance agency. The terms of the transaction were not disclosed.
“Even’s goal to evolve how financial institutions find and connect with consumers is not limited to loans or credit cards, but applicable to all financial products and services, including insurance. Despite its importance, purchasing life insurance is often an overwhelming and inconvenient experience. With more than $600 billion in premiums paid each year, and only 6% of policies sold completely online, we see tremendous opportunities to help modernize the life insurance industry and offer solutions that solve challenges for consumers and carriers alike,” remarked Even Financial Founder and CEO Phill Rosen.
Even’s goal to evolve how financial institutions find and connect with consumers is not limited to loans or credit cards, but applicable to all financial products and services, including insurance. Despite its importance, purchasing life insurance is often an overwhelming and inconvenient experience. With more than $600 billion in premiums paid each year, and only 6% of policies sold completely online, we see tremendous opportunities to help modernize the life insurance industry and offer solutions that solve challenges for consumers and carriers alike – Phill Rosen
Founded in 2016 by Nir Yeffet, Rona Elbaz, and Tom Patterson, LeapLife had raised a total of $1.5M in reported equity funding from a sole round from NFX, Founders Fund, RGA Ventures, and Ridge Ventures. LeapLife’s existing platform will continue to operate and Even Finacial plans to integrate LeapLife’s insurance offering into its API.
This marks the second acquisition for Even Financial. The company acquired Birch, the credit card rewards app, in 2018. Even’s platform is offered now to over 400 partners to drive their lead generation, which has resulted in over $1.5B in credit issued. With this acquisition, Even has its sights on the insurance market.
