Future Family, a fertility care financing startup, had raised $25m in Series B funding led by Munich Re Ventures.
Additional backers in the round also included Triventures, MS&AD Ventures, ORIX, and existing investors Aspect Ventures, Mindset Ventures and OurCrowd.
Founded in 2016, by former SolarCity exec Claire Tomkins, who was inspired by her own fertility struggles, Future Family’s mission is to make fertility care accessible and affordable to all.
According to Future Family, more than half the consumers who visit a fertility clinic in pursuit of care and support, do not move forward with treatment, and those who do go through IVF and egg freezing processes typically pay for their treatment with a credit card, taking on high-interest rate debt and risking damage to their credit score.
The company will use the funding to continue to expand it Buy Now, Pay Later (BNPL) platform which includes a digital coaching layer to support its financing customers. The team is expanding its coaching team and growing a network of fertility clinics nationwide to support more families-to-be.
Tomkins said, “We’re thrilled to continue to advance access and support better outcomes in fertility through this latest round of funding. Going through fertility treatments is inherently an overwhelming process for people and one that needs financial innovation to better align costs with outcomes.
“Munich Re Ventures brings deep expertise in risk management products and a track record of supporting consumer-centric innovation to help us expand Future Family to those who need it most.”
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