Xpension (trading as xbAV), a Munich, Saarbrucken, and Berlin, Germany-based provider of a SaaS leader in the digitalization of corporate pension & life insurance, raised €25m in Series C financing round.
The round, which brought total funding raised to date to more than €50m, was led by HPE Growth with participation from existing investors Cinco Capital, led by Lars Hinrichs (founder of XING and chairman of Xpension), and Armada Investment. In conjunction with the funding, Tim van Delden, Co-Founder and Partner at HPE Growth, will join Xpension’s Supervisory Board.
The company intends to use the funds to scale up its pension & life insurance SaaS platform in Germany and to further prepare for international expansion.
Led by Martin Bockelmann, CEO & Founder, xbAV is a SaaS technology provider for the digitization of occupational pensions (bAV). The company’s technology reduces the administrative burden for employers, insurers, employees and intermediaries to a minimum. Currently, more than 40 life insurers and sales organizations, 11,000 insurance agents and 3,000 SMEs use the platform.