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Olé life has raised $12.0M across 1 funding round.
Key people at Olé life.
Olé life has raised $12.0M in total across 1 funding round.
Olé Life operates a digital life insurance platform, offering accessible, flexible term life policies throughout Latin America. It leverages technology to streamline the experience, providing benefits like premium returns, critical illness protection, and income replacement. Its approach centers on direct-to-consumer digital channels and mobile applications for efficient policy management and distribution.
Established in 2021, Olé Life was founded on the insight that Latin America's insurance sector lacked modern, user-friendly digital solutions. The founders sought to simplify complex processes, making financial protection readily accessible. This vision drove the creation of their agile, technology-driven platform.
Olé Life serves individuals and families seeking convenient life insurance across Latin America. Its intuitive platform design and diverse coverage options appeal to clients focused on financial security. The company envisions becoming a leading digital insurer, continually enhancing technology to foster widespread access to essential financial protection regionally.
Olé life has raised $12.0M across 1 funding round. Most recently, it raised $12.0M Ole Insurance Group - Series A in June 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 1, 2023 | $12M Series A | AV8 Ventures, Mundi Ventures | Morro Ventures | Announced |
Olé life has raised $12.0M in total across 1 funding round.
Olé life's investors include AV8 Ventures, Mundi Ventures, Morro Ventures.
Key people at Olé life.
Olé Life is a Miami-based full-stack insurtech company pioneering flexible, digital term life insurance across Latin America and the Caribbean, serving individuals and families in over 30 countries with coverage up to $1 million USD.[1][2][3] It solves the region's massive insurance protection gap—an $86 billion market—by offering AI-powered underwriting that skips medical exams, delivers instant approvals in under 10 minutes, and provides USD-denominated policies with stable premiums, living benefits for health/disability, and a money-back guarantee.[2][3][4] The company has issued $900 million+ in coverage, boasts 4,000+ distribution partners, and recently raised $13 million in Series B funding led by PayPal Ventures, with growth including doubled headcount and 73% Q1 revenue increase as of 2023.[2][3][4][5]
Founded by brothers Michael Carricarte Jr. (CEO), Andrew, and Brian Carricarte, Olé Life builds on three generations of insurance expertise in Latin America, starting with their father selling policies in the 1970s.[1][5] Michael, a serial entrepreneur, previously built and exited Amedex, the first provider of international major medical insurance in the region over 30 years ago, giving the family deep market insights.[1][3][4] Launched around 2019 (registered in Puerto Rico as a Class 5 international insurer), Olé Life emerged as the first to deliver 100% digital term life insurance with simplified AI evaluation, quickly gaining traction with awards like World Future Awards for Life Insurance, Pan Finance's Best Digital Life Insurance Provider, and International Investor's Most Innovative in LATAM.[1][2]
Olé Life rides the insurtech wave digitizing emerging markets, where low penetration stems from outdated models, high costs, and inaccessibility—especially LATAM's growing middle class facing protection gaps.[3][4][5] Timing aligns with AI advancements enabling predictive underwriting and mobile-first adoption, plus post-pandemic demand for financial security amid economic volatility.[2][5] Market forces like vast underserved populations in middle-income regions favor its scalable, agent-network model over pure DTC, influencing the ecosystem by closing gaps, inspiring embedded insurance (e.g., employer benefits), and expanding via licenses in Mexico/Brazil.[3][5] Backed by VCs like PayPal Ventures, Mundi Ventures, and AV8, it validates tech's role in traditional finance.[2][3][4]
Olé Life's momentum—$900M+ coverage, rapid scaling, and Series B—positions it to dominate LATAM insurtech, with plans for health/lifestyle add-ons, deeper B2B embedding, and expansion beyond the region to similar markets.[2][3][5] Trends like AI personalization, regulatory easing, and USD-stable products will accelerate growth, potentially multiplying its network and coverage amid rising demand. Its influence may evolve from pioneer to category leader, redefining accessible protection as insurtech matures, building directly on its mission to safeguard families' futures through innovation.[1][3]
