PolicyMe Raises C$30 million to Revolutionize Digital Insurance

PolicyMe, a Canadian digital insurance provider, recently announced the successful close of C$30 million in new funding, building off of its C$3.3 million Seed Round (2020) and C$18 million Series A round (2022). The latest funding round, secured through multiple tranches of equity and debt financing from strategic partners – including Blue Cross Life Insurance Company of Canada and Securian Canada – will fuel the company’s expansion beyond life insurance into health and dental coverage.

This new funding supports PolicyMe’s mission “to protect Canadians with simple and affordable insurance.” The company’s growing product suite now includes Life Insurance, Critical Illness Insurance, and Health & Dental Insurance, in addition  to its fully integrated, white-labeled platform.

By deepening its collaborations with strategic partnerships, such as Blue Cross Life and Securian Canada, PolicyMe is well-positioned to accelerate its growth and continue reshaping the future of insurance in Canada.

Author: Matthew Stackhouse, 2024/2025 Articling Student-At-Law