Xaver, a groundbreaking fintech startup based in Germany, has unveiled its B2B AI platform aimed at revolutionizing life insurance and private pensions. In a significant milestone, the company has secured €5M in what is reported to be Europe’s largest fintech pre-seed funding round of 2024.
Xaver’s innovative platform is designed to boost operational and sales efficiency by up to 65% for banks, insurers, and brokers, addressing the critical issue of Europe’s pension gap.
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Investors Rally Behind Xaver
The funding round was led by Motive Ventures and Cavalry Ventures, with additional support from a distinguished group of former C-level executives from major banks and insurers, including Martin Blessing (Commerzbank, UBS), Thomas Münkel (Allianz Group, UNIQA), and Matthias Setzer (Meta, PayPal). High-profile founders such as Julian Teicke (Wefox), Raffaele Terrone (Scalapay), and Felix Ohswald (GoStudent), alongside football star Mario Götze, also participated. Fintech scouts from Sequoia, a16z, Lakestar Scout Fund, and EQT Ventures, as well as further contributions from Robin Capital, The Delta, and Notion Capital, rounded out the investment.
Revolutionizing Life Insurance and Pensions
Xaver aims to tackle the challenges facing the life insurance and pension savings sectors by providing innovative solutions that prioritize savers. “Xaver’s mission is simple but powerful: Provide people in our society with a financially prosperous future. We believe that pension saving should be accessible, transparent, and cost-efficient for everybody,” said Max Bachem, Founder and CEO of Xaver.
The company’s platform features AI-driven financial advisory and sales technology for enhanced efficiency, alongside white-labeled private pension products, including the new Pan-European Pension Product (PEPP). Xaver’s upcoming white-labeled PEPP aims to expand partners’ product portfolios with cost-effective pension solutions, fostering novel, customer-centric offerings in a competitive market.
AI-Driven Technology for Enhanced Advisory and Sales Processes
Xaver revolutionizes advisory and sales processes for banks, insurers, and brokers through AI-driven technology, integrating personalized digital funnels and AI-powered agent interactions to create an omni-channel experience. Customers gain full transparency of their pension pot, identifying potential gaps and triggering actions for improvement. The platform’s AI, Xaver.nova, streamlines processes, ensures compliance, and enhances the overall customer experience in life insurance and pension sales.
Leadership and Vision
The FinTech’s leadership team includes Max Bachem, former CEO of Luko Insurance and Coya, Ole Breulmann, a seasoned tech entrepreneur with AI expertise, and Dr. Björn Holste, with a background in banking and Fintech.
With this substantial pre-seed funding, the FinTech is poised to transform the life insurance and pension sectors, driving towards ultimate customer value and a financially prosperous future for society.
