rewrite this title Eleos Life Raises $3 Million in Media-for-Equity Investment – Finovate

Eleos Life, an insurtech based in the UK that expanded to the US last year, has secured a $3 million media-for-equity investment.

The investment came courtesy of Mercurius Media Capital (MMC), a US-based, media-for-equity venture fund, and will help accelerate brand awareness for Eleos in the United States via national television, digital, and cinema advertising.

Eleos Life was founded in 2023. The company made its Finovate debut at FinovateEurope 2024 in London. Kiruba Shankar Eswaran is Co-founder and CEO.

UK-based insurtech Eleos Life has raised $3 million from Mercurius Media Capital (MMC), a US-based media-for-equity venture fund. The investment, a media-for-equity transaction, will help boost Eleos’s brand awareness in the United States through MMC’s network of national television, digital, and cinema advertising.

“Our investment in Eleos Life represents a perfect alignment of innovative technology and strategic storytelling,” MMC Founding Partner Piyush Puri said. “By bridging the gap between Eleos’s seamless digital platform and our vast network of national TV and cinema assets, we are creating a fast track for their US expansion. We aren’t just investors; we are partners in scaling their visibility across every screen in America.”

Eleos makes insurance coverage accessible with user-friendly, jargon-free, fully digital applications. Currently available in the UK, Eleos has embedded insurance coverage into the digital journeys of its bank and fintech partners, reaching nearly five million customers through more than 10 platform integrations.

As a media-for-equity investor, MMC will deploy national television, digital, and cinema inventory through outlets such as Sinclair Broadcast Group, TelevisaUnivision, and Atmosphere TV, providing Eleos with a sustained, multi-screen presence. In his statement, Eleos Life CEO Kiruba Shankar Eswaran underscored the value of this coverage.

“This partnership with Mercurius Media Capital isn’t just about funding; it’s about visibility,” Eswaran said. “This investment allows us to tell our story on the biggest screens in the country, ushering in the next era of growth for Eleos in the United States.”

As part of the investment, MMC will also provide Eleos with operational support through its network of partners specializing in creative services, AI-driven content, and go-to-market execution.

Founded in 2023 and headquartered in London, Eleos Life made its Finovate debut at FinovateEurope 2024. At the conference, the company, which directly serves more than 30,000 customers across the UK, demonstrated how its life and income protection insurance can be embedded into consumer brands and integrated into online journeys.

Last month, Eleos Life announced a community-driven collaboration with Land Trust Alliance, a national network and voice of the land trust community dedicated to supporting private land conservation across the US. Courtesy of the partnership, Eleos policyholders will be able to designate the Land Trust Alliance as a beneficiary on their life insurance policies. Eleos began the year with the launch of its AI Agent Desk, a free specialized AI-powered chat assistant that enables P&C brokers and agents to deploy an intelligent chat widget on their platform.

Photo by Natalya Zaritskaya on Unsplash

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