Auckland, New Zealand 14  August 2025

Simfuni, the New Zealand-based Insurtech transforming life insurance policy administration, has closed a $3 million NZD venture capital raise to fast-track product innovation, expand its market presence, and embed next-generation AI and automation capabilities into its platform.

The round was led by Icehouse Ventures with participation from GD1 and all other existing investors, each either taking up or increasing their allocation, alongside new backers including Ecliptic Capital (David Burnett, General Partner) and Kent Gardner, Chair of Jasper. This latest raise brings Simfuni’s total funding to $5.8 million NZD.

“Simfuni is tackling a multi-billion-dollar problem in the insurance industry with a solution that’s both timely and transformative. Their integration-first approach removes the barriers that have kept insurers from modernising, unlocking enormous value across Australasia and beyond. Just as importantly, Shaun and the team have the rare mix of vision, domain expertise, and execution capability to capture this opportunity and scale it into a category-defining business.” Says David Burnett, General Partner of Ecliptic Venture Capital.

Originally launching with a disruptive customer payments solution for the insurance sector, Simfuni has, over the last 24 months, expanded its focus to delivering a world-class, end-to-end life insurance customer and policy management solution. The platform is designed to drive operational excellence, regulatory compliance, and superior customer experiences.

Unlocking value for closed and open books

A key strategic focus for Simfuni is enabling life insurers to migrate closed books of business onto a modern, unified operating platform. This migration delivers significant cost reductions through automation, ensures rapid compliance with evolving regulations such as CoFI and the Contracts of Insurance Act, and gives operators a 360° view of every customer and their full policy lifecycle.

By transforming outdated, siloed systems into a single customer-centric platform, Simfuni also helps insurers drive persistency and retention through better customer experiences that keep policyholders engaged and loyal.

Just as importantly, Simfuni is built for open-book growth strategies. Its modern, modular, API-based infrastructure offers industry-leading flexibility, enabling insurers to rapidly launch new products, integrate with existing systems, and adapt to changing customer expectations without costly redevelopment.

“We chose Simfuni because they offered the rare combination of a modern, modular platform and deep understanding of the life insurance market. Their solution gives us the flexibility to adapt quickly, the tools to meet regulatory demands with confidence, and the ability to deliver a better experience for every policyholder,” said Bruce Waddel, CEO of SBS Insurance.

“The automation and 360° customer view Simfuni provides are game-changers. Our teams are working smarter, and our clients are seeing faster, more personalised service,” said Trina Buckley, GM Life and Health at Gallagher Benefit Services.

Strategic leadership appointment

To spearhead its next phase of product innovation, Simfuni has appointed Tim von Dadelszen as Chief Product Officer. A respected Insurtech leader, von Dadelszen co-founded Life Direct and Quotemonster, served as GM of Trade Me Insurance, and most recently was Head of Digital Innovation at Partners Life.

“Joining Simfuni is an opportunity to help reshape the future of insurance technology,” von Dadelszen said. “Our goal is to simplify complexity for insurers, unlock new operational efficiencies, and ensure customers have seamless, transparent experiences.”

Recognised innovation and momentum

Simfuni’s leadership in Insurtech has been recognised with multiple industry awards, including:

• Insurtech of the Year 2024 - Global Insurtech Awards
• ANZIIF Insurtech of the Year (Australia & New Zealand) 2024
• Current finalist for the NZ Financial Services Council Innovation of the Year

The new funds will be directed toward advancing AI functionality for the customer base, expanding automation tools, and strengthening platform agility to ensure life insurers remain ahead of industry, customer, and compliance demands.

“This raise is more than capital. It is a signal to the market,” added Shaun Quincey, CEO of Simfuni. “We have investor confidence, proven solutions, and a team capable of leading meaningful change in one of the most conservative and critical sectors in financial services.”

About Simfuni

Simfuni is a leading Australasian Insurtech transforming life insurance policy administration. Its modular, API-enabled, AI-ready platform empowers insurers to streamline operations, migrate closed books to reduce costs, grow open-book portfolios, meet regulatory requirements, and deliver exceptional customer experiences. Headquartered in Auckland, Simfuni works with life insurers across New Zealand and Australia to modernise the policy lifecycle from onboarding to claims.