TLDR:
- Eleos raises $4 million in seed investment led by Fuel Ventures and Indico Capital
- Eleos is the UK’s only provider of fully digital life insurance and income protection products
Eleos, a UK-based company founded in 2022, has secured a $4 million seed investment led by Fuel Ventures and Indico Capital. The funding round was further supported by APX. The company focuses on providing fully digital life insurance and income protection products. By partnering with leading financial brands, Eleos is revolutionizing consumer access to vital financial protections. With a proprietary full stack B2B2C solution, the company offers simple integration for partners with no additional costs. Currently, Eleos partners with credit-building specialists like Loqbox and CreditLadder, as well as flexible loans providers. The company’s customer attraction and retention plan includes offering free ancillary benefits to offset insurance premiums, such as a 24/7 remote GP service and mental health support.
Eleos aims to address the low penetration rates of life insurance and income protection in the UK by raising awareness and improving access. The company also focuses on providing digital solutions to streamline the customer journey for financial products, offering entirely online purchase options. With plans to launch more insurance lines in the US and expand distribution partnerships in the UK, Eleos is poised for growth and expansion. Investors like Mark Pearson of Fuel Ventures and Stephan Morais of Indico Capital Partners believe in Eleos’s vision and potential for success in the insurtech market.
