Olé Life has secured $13 million in Series B funding, led by PayPal Ventures, to enhance its position as Latin America's first fully digital life insurance provider, addressing a significant protection gap in the region.

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Olé Life, recognized as Latin America’s first fully digital life insurance provider, has successfully raised $13 million in a Series B funding round. This round, led by PayPal Ventures with contributions from Mundi Ventures, AV8, and Advent Morro, marks a significant milestone for the company, which has been a portfolio focus for Mundi Ventures since January 2023 when it led Olé Life's Series A round. The capital raised will facilitate Olé Life's expansion into pivotal Latin American markets and enhance its product offerings to address the specific needs of regional families.

Since its inception, Olé Life has established itself as an innovator in the insurance sector, demonstrating remarkable growth. With over $2 billion in total insured value and a robust network of more than 4,000 distribution partners, Olé Life aims to close the significant protection gap in Latin America through accessible and customer-driven insurance solutions.

Industry Overview in Latin America

The insurance industry in Latin America is experiencing a transformative period characterized by the increasing penetration of technology and a growing awareness of the need for financial protection. Despite