Of the all-equity investment for the insurtech, $70 million came from new investors Investissement Québec, who led the round, and the government of Québec. The rest of the funds came from existing backers Export Development Canada and Fondaction. (The Logic)
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Of the all-equity investment for the insurtech, $70 million came from new investors Investissement Québec, who led the round, and the government of Québec. The rest of the funds came from existing backers Export Development Canada and Fondaction. (The Logic)
Talking point: The company said the new funding will be used for its global expansion plans, including through strategic acquisitions. The company last acquired Markham, Ont.-based CompuOffice Software in early February. Currently, the insurtech’s products and services are used by financial institutions in 17 countries. Over the past five years, its business expanded beyond North America into Latin America, the Caribbean and Europe. Equisoft chief revenue officer Jean Sabbagh told The Logic the company is looking to deepen its Latin American presence with a focus on Mexico and Chile, and “expand more aggressively” in Europe. It also wants to further develop its integrated life insurance platform and wealth products.
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