Money app Albert raises $100 million
Albert closed a $100 million round led by General Atlantic, bringing the company’s total funding to date to $173 million.
Founded in 2015, Albert has over 5 million users and provides services including mobile banking, savings, investing and insurance. When it comes to insurance, Albert has partnered with Ladder to offer life insurance, Lemonade to offer home and renters insurance and Trellis to offer car insurance. In the past, the company was working with select insurers such as Progressive and Legal & General, and insurance aggregator CoverHound that has been recently acquired by insurance agency Brown & Brown.
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“We’re proud to be extending our reinsurance relationships through a new partnership with PartnerRe. True innovation in life insurance must happen on all fronts — great risk, great pricing, great customer experience. We’re thrilled about the things we can achieve in working together.” -CEO of Ladder, Jaime Hale.