Reassured, the UK’s largest life insurance broker has agreed an undisclosed minority growth capital investment by Bridgepoint Development Capital to fund the future development of the business.
The transaction, which is subject to the approval of the Financial Conduct Authority, will allow Reassured to continue to lead the growth of its sector, invest in technology to improve its scalability and optimise efficiency, as well as the future development of new products.
Reassured worked extensively on this investment with Hines Associates over a number of months.
Reassured founder and CEO, Steve Marshall, said:
We have been growing and developing our business at an unprecedented rate over the last few years, as we engage with new partners and tap into new customer bases through our internal marketing efforts.
Partnering with Bridgepoint and its substantial expertise in growing businesses creates an opportunity to build and diversify our business even further, as we cement our position as a meaningful financial services sales platform with multiple products, able to offer protection to more families than ever before.
Michael Black, managing partner of Bridgepoint Development Capital, commented:
We are delighted to be partnering with Steve, Laura and the team at Reassured. Supporting highly ambitious and driven founders and executives in high growth businesses is at the heart of what we do.
This is an opportunity to invest in, and to help develop, a market-leading business in the growing UK life insurance market.
We’ve been impressed by its business model, very strong operational controls and its highly driven management team.
Reassured was founded in 2009 and has offices in Manchester, Basingstoke, Southampton and Portsmouth with further offices planned for expansion over the next 12 months.
For further information:
Phil Jeynes - Director of Corporate Sales