Munich Re Ventures leads $25M Series B in Future Family, a company tackling better access to care – starting with fertility
By: Veronica Gabriele (LinkedIn)
Starting a family is one of the biggest financial commitments a couple will face. As a result of the times we live in, an increasing number of couples are struggling to build a family and often must forego or significantly delay related healthcare procedures. On average, an IVF treatment costs $13K. In addition, rising healthcare costs financially devastate patients across the US, in fact unpaid medical bills are one of the leading reasons for negative credit score impact and is still the #1 reason for personal bankruptcy.
The fertility journey, on top of being expensive, is incredibly emotional and stressful. The majority of fertility clinics are privately owned and highly lucrative, which means these clinics have catered to higher income individuals. Despite the prohibitive cost, the level of emotional and educational support from the clinic often leaves much to be desired. Future Family is building a platform designed to counteract both issues and serve the modern consumer.
It is hard not to get inspired by Future Family’s CEO. Claire Tomkins created Future Family after experiencing the hardship in getting financial guidance, emotional support, and at a basic level, the correct information to make informed fertility decisions.
When we first met Claire at the beginning of 2021, her vision for creating a care-based financial service platform to guide consumers through their fertility journey captivated us to learn more and explore the company’s intersection with risk transfer solutions. In the months thereafter, we kept tabs on Claire and followed their tremendous growth in building Future Family – we are now excited to lead their $25M Series B round.
Today, Future Family’s product delivers affordable payment solutions and coaching services needed to address the challenges of starting a family. The company’s financing solution allows clients to split the costs of in vitro fertilization (IVF), into manageable monthly payments starting at $250. Through their unique embedded fintech solution, Future Family has elevated the user experience and made their product relevant both patients and clinics. Their unique multi-draw payment infrastructure across all service providers allows the company to deliver a seamless on-platform experience, while at the same time widening the pool of couples that can now seek fertility treatments.
The company has built a foundation for a payments infrastructure that may change the way patients interact with elective healthcare treatments. Today the platform matches point-in-time needs, such as medicine refills, and creates an educational support system by enabling clinics deliver better and more focused care.
We are excited about where Future Family is heading as the company is uniquely positioned at the crossing of health care, financial services, and insurance. Our investment in Future Family embodies our thesis on the intersection of these industries and the potential for embedded insurance applications within elective healthcare. We look forward to continuing supporting the company and their journey to improve access to care.