Hogan Lovells acted for Goldman Sachs Asset Management, which led the transaction in conjunction with existing stakeholders HPE Growth and Cinco Capital.
Announced on 10 March, the USD 70 million primary new equity raise takes Xempus’ total funding to USD 125 million to date.
Munich-headquartered Xempus operates a software as a service (SaaS) platform to facilitate sale and administration of pensions and life insurance, serving stakeholders including insurance companies and intermediaries, as well as companies and employees.
Founded in 2007, Xempus currently serves 65,000 employers and 18,600 agents. It plans to use the proceeds to expand its policy sale and administration in Germany, grow its product range and launch its platform into new European markets.
In a statement, Goldman Sachs Asset Management’s Growth Equity division managing director Christian Resch said: “We see a tremendous opportunity to further digitise the pension and life insurance market.”
Xempus’ CEO Tobias Wann said the funding would allow it to “further accelerate our pace as we innovate and tech-enable the insurance market in Europe, delivering better value to insurers, agents, corporates and employees”.
Corporate partners Volker Geyrhalter in Munich and John Connell in London co-led the Hogan Lovells team, along with Frankfurt-based employment partner Kerstin Neighbour, and Olaf Schneider and Martin Pflüger in Munich on regulatory and intellectual property matters, respectively, assisted by a number of counsel and associates.
Source: ICLG
