Mundi Ventures Portfolio Company Olé Life Secures $13M in Series B Funding to Expand Its Presence in Latin America’s Life Insurance Sector
Mundi Ventures is thrilled to announce that our portfolio company, Olé Life, has successfully raised $13 million in a Series B funding round, led by PayPal Ventures with participation from Mundi Ventures, AV8, and Advent Morro. Mundi Ventures has been a proud partner of Olé Life since January 2023, when we led their Series A round. Our continued investment in this Series B round underscores our belief in Olé Life’s vision and its transformative impact on the Latin American insurance landscape.
Since our initial investment, Olé Life has demonstrated extraordinary growth and innovation, establishing itself as the region’s first fully digital life insurance provider. This new funding will enable Olé Life to further expand into key Latin American markets, setting up localized operations and broadening its suite of offerings to include new products and policy add-ons designed to meet the specific needs of families across the region.
“We believe that Olé Life can play a significant role in closing the 187 Billion dollar protection gap in Latin America,” said Rafaela Andrade, Partner at Mundi Ventures. “In a region where financial protection is both necessary and underserved, solutions like Olé Life can have a profound impact on people’s lives. With few players addressing these challenges, there is a tremendous opportunity to bring meaningful change to millions of families.”
Olé Life’s success is reflected in its impressive metrics, including over $2 billion in total insured value and a network of more than 4,000 distribution partners. Backed by a team of life insurance veterans, Olé Life leverages advanced AI tools and decades of insurance expertise to set new industry standards with accessible, innovative, and customer-focused solutions.
Michael Carricarte, Founder & CEO of Olé Life, emphasized that the funding reflects the company’s commitment to innovation and its mission to empower families across Latin America. “This funding will allow us to expand our reach beyond USD-denominated policies and introduce groundbreaking offerings, such as whole-family protection plans, that address the region's unique needs. This investment is a pivotal step toward transforming how financial protection is delivered and empowering millions of families to secure their futures.”
Alexandros Bottenbruch, Principal at PayPal Ventures, added, “Olé’s vision of democratizing financial protection aligns with our commitment to supporting innovation that drives inclusion and empowerment. [PayPal Ventures is] excited to support their journey as they enable broader access to valuable USD-denominated protection and financial savings assets for consumers throughout Latin America.”
With this Series B funding, Olé Life is poised to strengthen its leadership in the Latin American insurance market, delivering transformative solutions that empower families and set new benchmarks for the industry.
About Olé Life
Olé is the first Latin American Life insurtech company dedicated to transforming the insurance protection for families across the region. By leveraging cutting-edge technology and customer-centric design, Olé Life offers innovative solutions that make protection accessible, affordable, and tailored to the unique needs of its users.
About Mundi Ventures
Founded in 2015, Mundi Ventures is a Venture Capital firm headquartered in Madrid with €500 million in assets under management. Mundi Ventures and its team have supported over 70 tech companies worldwide, with a focus on Insurance, Retail, and Deep Tech. The firm acts as a platform for thematic investments, strategically targeting emerging trends across various industries. Mundi Ventures operates with a highly international team, consisting of 25 employees from 17 different nationalities, bringing a diverse global perspective to its investment approach. For more information, visit https://www.mundiventures.com/
