Insurtech company Pensure accelerates - raises nearly 6 million
Pensure's founders: Ervin Fazlic, Mikael Claesson and Lars-Ola Hahlin
Stockholm-based Pensure has developed a digital platform where companies can easily subscribe to and manage their occupational pensions. Pensure offers Sweden's most affordable occupational pension with savings of around 24% compared to competitors*. Ahead of the launch, the company is raising SEK 5.6 million from its existing shareholders and Wellstreet Ventures Fund I.
The pensions industry has undergone a major transformation in the 2000s, with more and more large companies gaining access to lower prices for their occupational pensions through procurement. However, such an opportunity does not exist for the vast majority of SMEs - especially those not covered by collective agreements. Small businesses are still paying the regular fees of insurance companies. Pensure wants to change this.
Pensure offers a simple and user-friendly platform where companies get access to Sweden's most affordable occupational pensions with savings of about 24%*. Pensure's customers get access to occupational pensions completely free of insurance fees and are offered a discount on the underlying funds, which means a significantly higher pension compared to competitors.
Behind Pensure are founders Mikael Claesson (CEO), Lars-Ola Hahlin (CFO) and Ervin Fazlic (CBDO). Mikael Claesson is a veteran in the pension industry with over 30 years of experience from Stenbecksgruppen and Svensk Handel. Mikael has previously been co-founder and CEO of Movestic (formerly Moderna Försäkringar Liv), and CEO of SH Pension (Svensk Handel). Lars-Ola Hahlin is an actuary who has held several senior positions within Movestic and has been CEO of Svensk Handel Fondförsäkring.
Since the start of operations in 2018, the company has entered into partner agreements with Småföretagarnas Riksförbund and the accounting startup Bokio, and raised SEK 5 million to fund tech development. The platform has been in beta phase since May 2019 and currently has around 100 client companies. Now, a year later, Pensure is being launched more broadly.
- We want to challenge the pension market giants with a modern technology and a disruptive pricing model that delivers a higher pension. It should be our customers' employees who live off their pensions - not the middlemen and insurance companies. We have developed a fantastic service that has been tested for over a year. Now we are ready to enter the next phase with a strong focus on scaling up and growth," says Mikael Claesson, co-founder and CEO of Pensure.
In conjunction with the launch, the company is conducting a new issue of SEK 5.6 million. In addition to the existing shareholders, which include the founders and business angel and hockey legend Mattias Weinhandl, Wellstreet joins as a new investor. Pensure will thus be the first investment in Wellstreet's first fund Wellstreet Ventures Fund I and will be part of the accelerator programme Wellstreet Fintech Loft in cooperation with, among others, cloud company Amazon Web Services.
Armando Coppola, Wellstreet's newest partner and Head and Fintech will join Pensure as a new board member. Armando has over 13 years of experience in finance and insurance, including as Partner Manager at Avanza and most recently from a role as Sales Manager at Nordnet Bank.
- Pensure has succeeded in creating a digital pension solution for both advice and administration, which gives small businesses the same opportunities and prices as the big companies get after extensive tendering. I look forward to working with this knowledge-rich team within the framework of Fintech Loft and Wellstreet," says Armando Coppola.
For more information, please contact:
Mikael Claesson, co-founder and CEO Pensure, 070-730 69 03, mikael@pensure.se
Armando Coppola, Partner & Head of Fintech Wellstreet, 0736-37 57 08, press@wellstreet.se
The idea of Pensure is based on making the complicated simple. We don't think customers prefer sitting in long meetings with the bank or having to wade through piles of forms, instead we've created a format to meet the customers of the future on their terms. Pensure has developed a digital, affordable and sustainable occupational pension with the same security as the bank or insurance company. As a Pensure customer, your occupational pension is taken out with the pension company SPP.