T Rowe Price Associates has joined YuLife, a UK based tech driven financial services firm which provides employee benefits and insurance, as an investor.
The asset management firm participated in YuLife’s recent Series C funding round in July 2022 which raised $120 million. YuLife has raised a total of $206 million since it was launched in 2016.
The amount of the new investment was undisclosed. YuLife will use the investment to expand operations into new markets including the US. The company also aims to broaden the services it offers including more insurance products tailored to individuals’ needs.
Commenting on the news Zenon Voyiatzis, investment analyst at T Rowe Price, said: "YuLife has distinguished itself from others through its ability to grow rapidly while still keeping up with dynamic market demands, coupled with a customer-centric mentality."
He added: "It is clear to us that businesses and employees see both short- and long-term benefits from using YuLife's products."
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