AUSTIN, TEXAS–(BUSINESS WIRE)–Today, unuan all-in-one banking and insurance solution, announced its first set of partnerships with some of the world’s most innovative and trusted companies, including Visa and AAA life insurance. These partners lay the groundwork for Onuu’s offerings, which will include access to products and services for the estimated 166 million Americans currently underserved by the nation’s financial system.
“At Onuu, we believe everyone deserves financial security, which was the impetus to start the company. We built the platform with Americans of modest means in mind, leveraging learning to ensure people have access to a more secure financial future,” said Felix Ortiz, CEO and Co-Founder of Onuu. “We know that working with like-minded brands that prioritize financial well-being of their customers is critical to our success, and it is an honor to partner with renowned brands like Visa and AAA Life Insurance as we prepare to introduce Onuu nationwide.”
Onuu is designed for Americans of modest means, offering personalized membership with access to life insurance, credit and savings. Democratizing access to financial security is at the heart of Onuu’s mission, and this inaugural list of partners represents the company’s commitment to advancing this vision for its members.
“We are thrilled to partner with Onuu as they are leading the way in how people think about and approach financial security,” said Ankur Chaturvedi, COO and Acting President at AAA Life Insurance. “This partnership will allow us to work together to help Americans gain better and more robust access to financial protection for those they love.”
Onuu’s platform is powered by artificial intelligence and machine learning to help change the way people access financial products, services and education while creating a more personalized and accessible user experience .
“Expanding access to financial tools and services is central to Visa’s purpose – to uplift everyone everywhere – and we are excited to work with companies like Onuu to bring new solutions and approaches to this challenge. “said Vanessa Colella, Senior Vice President and Global Head of Innovation. and digital partnerships, Visa. “By joining Visa’s Fintech Fast Track program, Onuu gains access to Visa’s scale, security, reach and partner network, which can help fast-growing fintechs get to market faster.”
SCOR, a global Tier 1 reinsurer, and Onuu are collaborating on reinsurance solutions for Onuu’s offerings to support these initiatives. “As a purpose-driven organization, we aim to reverse the growing savings and protection gaps. We are excited to partner with Onuu to increase financial literacy and accessibility, and strengthen security through a digital technology,” said Manisha Dias, Vice President, Strategic Partnerships at SCOR.
Onuu will open a waitlist on May 2, giving consumers the opportunity to become early subscribers and stay up to date with the latest launch news. Those on the waitlist will then receive additional information about entering Onuu’s upcoming sweepstakes, open May 2-June 1 for a chance to win $25,000. Onuu will launch the platform this summer with immediate plans to evolve its offerings, expand the team, further develop the technology and grow its partner network over the next six months.
This partnership announcement follows Onuu’s $6 million seed A-funding, led by VC Leap Global Partners, led by Latinx, with participation from Ulu Ventures, SV LATAM Capital, Jumpstarter Ventures, Verso Capital and Capital Factory Ventures. Onuu recently bolstered its seed investor base with a significant investment from LAT VC, which invests exclusively in the innovation and growth of Latin American-owned businesses and includes two former Fortune 500 CEOs, Sol Trujillo and Oscar Munoz. LAT VC’s capital and expertise will be directed to Onuu’s technology and product development.
For more information about Onuu and to join the waitlist, please visit https://www.onuu.com/.
Onuu was founded by serial entrepreneurs Felix W. Ortiz III and Ryan Wuerch to provide banking and insurance solutions to millions of people who lack financial security and literacy. Onuu members will have access to personalized life insurance and banking solutions, a digital guide and highly personalized financial literacy experiences. The founding team has over 100 years of combined fintech experience. For more information, visit unu.com.
About AAA Life Insurance:
In 1969, AAA Life Insurance Company became part of AAA, offering life insurance and annuity products. Based in Livonia, Michigan, AAA Life is owned by several of the largest entities in the AAA organization. With over 1,600,000 active policies, many customers have trusted AAA Life to help them provide financial protection to those they love. AAA life insurance company has a AM Best rated A (Excellent) in August 2021. This reflects our financial strength and positive outlook for the future.
SCOR, the world’s fourth largest reinsurer, offers its clients a diversified and innovative range of solutions and services to control and manage risks. Applying “The Art & Science of Risk”, SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the well-being and resilience of society. SCOR offers its clients an optimal level of security with its AA- or equivalent rating from S&P, Moody’s, Fitch and AM Best. The Group generated premiums of over €17.5 billion in 2021 and serves clients in over 160 countries from its 36 offices around the world.
For more information visit: www.scor.com.