Eleos Life, an insurtech based mostly within the UK that expanded to the US final yr, has secured a $3 million media-for-equity funding.
The funding got here courtesy of Mercurius Media Capital (MMC), a US-based, media-for-equity enterprise fund, and can assist speed up model consciousness for Eleos in america by way of nationwide tv, digital, and cinema promoting.
Eleos Life was based in 2023. The corporate made its Finovate debut at FinovateEurope 2024 in London. Kiruba Shankar Eswaran is Co-founder and CEO.
UK-based insurtech Eleos Life has raised $3 million from Mercurius Media Capital (MMC), a US-based media-for-equity enterprise fund. The funding, a media-for-equity transaction, will assist increase Eleos’s model consciousness in america via MMC’s community of nationwide tv, digital, and cinema promoting.
“Our funding in Eleos Life represents an ideal alignment of modern expertise and strategic storytelling,” MMC Founding Accomplice Piyush Puri mentioned. “By bridging the hole between Eleos’s seamless digital platform and our huge community of nationwide TV and cinema belongings, we’re creating a quick observe for his or her US enlargement. We aren’t simply traders; we’re companions in scaling their visibility throughout each display screen in America.”
Eleos makes insurance coverage protection accessible with user-friendly, jargon-free, absolutely digital purposes. Presently obtainable within the UK, Eleos has embedded insurance coverage protection into the digital journeys of its financial institution and fintech companions, reaching practically 5 million clients via greater than 10 platform integrations.
As a media-for-equity investor, MMC will deploy nationwide tv, digital, and cinema stock via shops comparable to Sinclair Broadcast Group, TelevisaUnivision, and Ambiance TV, offering Eleos with a sustained, multi-screen presence. In his assertion, Eleos Life CEO Kiruba Shankar Eswaran underscored the worth of this protection.
“This partnership with Mercurius Media Capital isn’t nearly funding; it’s about visibility,” Eswaran mentioned. “This funding permits us to inform our story on the most important screens within the nation, ushering within the subsequent period of development for Eleos in america.”
As a part of the funding, MMC may even present Eleos with operational assist via its community of companions specializing in artistic companies, AI-driven content material, and go-to-market execution.
Based in 2023 and headquartered in London, Eleos Life made its Finovate debut at FinovateEurope 2024. On the convention, the corporate, which straight serves greater than 30,000 clients throughout the UK, demonstrated how its life and revenue safety insurance coverage may be embedded into shopper manufacturers and built-in into on-line journeys.
Final month, Eleos Life introduced a community-driven collaboration with Land Belief Alliance, a nationwide community and voice of the land belief neighborhood devoted to supporting non-public land conservation throughout the US. Courtesy of the partnership, Eleos policyholders will be capable of designate the Land Belief Alliance as a beneficiary on their life insurance coverage insurance policies. Eleos started the yr with the launch of its AI Agent Desk, a free specialised AI-powered chat assistant that permits P&C brokers and brokers to deploy an clever chat widget on their platform.
Picture by Natalya Zaritskaya on Unsplash
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