Whole Life Insurance Liquidation Process Simplified Following $8M Series B Funding for Innovative Company Inclined
Inclined Technologies, a fintech lending platform specialising in whole life insurance, has announced the successful completion of an $8 million Series B funding round, led by HSCM Ventures. This round of funding will be used to expand and enhance the platform, aiming to unlock the potential within the $1.1 trillion currently invested in whole life insurance policies.
The funding will enable Inclined to grow its team, broaden its technology capabilities, and extend its platform to new whole life carriers and policyholders nationwide. This expansion is a strategic move to serve the $5 trillion+ whole life insurance market, reflecting Inclined’s continued growth, scale, and impact.
Northwestern Mutual Future Ventures participated in the funding round, signalling a shared belief in Inclined's mission to deliver best-in-class tools for policyholders. Craig Schedler, Vice President - Venture and Corporate Development at Northwestern Mutual Future Ventures, stated that Inclined's platform helps create a swift, seamless experience for policyholders to manage their financial lives.
One of the core features of the Inclined platform is the Inclined Line of Credit (iLOC), an automated, fast (less than 15 minutes), and fee-free application process allowing policyholders to access cash value secured by their whole life policies easily. The platform also includes a marketplace connecting policyholders with various financial institutions, designed to increase efficiency, reduce access barriers, and foster competitive rates for borrowing against insurance cash value.
Advisors can easily initiate an application for an iLOC, and clients can activate liquidity for various needs at a competitive rate. The number of whole life insurance advisors using Inclined's platform is growing daily.
In addition to these services, Inclined plans to introduce additional product features and value-adds for whole life advisors and carriers. This move is aimed at delivering more value to Northwestern Mutual and other leading whole life insurance carriers.
The funding round values Inclined at a premium to its $16.5 million Series A in September 2022, highlighting the platform's growth and potential. With this new funding, Inclined Technologies is poised to make significant strides in streamlining liquidity access from whole life insurance through automated credit lines and a financial institution marketplace.
The funding will allow Inclined Technologies to expand its team and technology capabilities, enhancing the Inclined Line of Credit (iLOC) platform to offer faster, seamless financial management for policyholders nationwide. With the addition of new product features and Value-adds for whole life advisors and carriers, Inclined aims to deliver more value to leading whole life insurance firms like Northwestern Mutual.
