Inclined Technologies, a Sausalito, CA-based financial technology company that aims to allow consumers to enhance the value of their life insurance policies, closed on a $15m Series A funding round.
HSCM Ventures led the round, with participation from Anthemis Group as well as several new and existing investors. In conjunction with the funding, Vikas Singhal, Partner at HSCM Ventures, will be joining the Inclined Board of Directors.
The company intends to use the funds for investments into its marketing and business development teams, and evaluating tangential opportunities for expansion.
Led by CEO and co-founder Joshua Wyss, Inclined is a SaaS software company focused on driving better long term outcomes for whole life policyholders. Through its proprietary technology platform, the company handles all requirements around policy assignment and perfection of the collateral to the bank, while continuing to service the lines.
Inclined’s initial focus is to work with whole life advisors to offer policyholders a secured, revolving line of credit collateralized by the cash value in their whole life policy, within a fully automated experience. The Inclined Line of Credit (“iLOC”) is flexible in that it can be drawn or paid back iteratively at the convenience of the borrower. The borrower never pays any fees on the platform, and the process of applying for a loan takes less than 15 minutes.
