California, the U.S.A-based financial technology company, Inclined, raised USD 15 million in recent funding. The company announced the Series A round on September 23, 2022. HSCM Ventures led the round for the company. Meanwhile, Anthemis Group, as well as several new and existing investors, joined in the investment.
As a part of the deal, Vikas Singhal, Partner at HSCM Ventures, intends to serve on the Inclined Board of Directors.
Purpose of Investment for Inclined
With the latest capital injection from Series A, the company has plans to seek investment opportunities in its marketing and business development teams.
It also intends to evaluate tangential opportunities for expansion.
What the co-founder of Inclined has to say
CEO and co-founder of Inclined Technologies, Joshua Wyss, said, “Inclined is a mission-driven company that provides solutions to help policyholders access their savings in a more efficient and cost-effective way. We are excited to partner with HSCM Ventures and the rest of our investors to tackle the $1 trillion opportunity in whole-life cash value access. With this capital, we will continue to improve the way people access the equity they have built in their whole life policy while serving as a trusted technology partner to whole life carriers and financial institutions across the US. This is a market that has yet to benefit from modern technology.”
What the investor has to say
Vikas Singhal, Partner at HSCM Ventures, further added, “We strongly believe in the Inclined mission and are excited to partner with the team. Inclined is engaging carriers, policyholders and lenders in a very aligned and coordinated manner, and we see policy loan refinancing as just the beginning of what can be unlocked through those integrated relationships.”
About the company
Founders Graham C. Gerlach, Joshua Wyss, and Mark Shaw launched the company in 2020. Inclined operates as a SaaS software company. It focuses on driving better long-term outcomes for whole-life policyholders. The company operates in the USD 150 billion insurance market. It aims to aid consumers in significantly enhancing the value of their life insurance policies. Currently, the market has two inherent problems – firstly, the front end” problem of obtaining and structuring the raw data from whole life carriers. Secondly, the “back end” problem of efficiently managing the collateral in a way that can deliver assets at scale to our financial institution partners.
Inclined Technologies seeks to address these two problems. The Inclined Line of Credit (“iLOC”) is flexible. The borrower can draw or pay back iteratively at his convenience. The borrower never pays any fees on the platform. Besides, the process of applying for a loan takes less than 15 minutes.
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