Fintech PR
Nordic Capital to invest in leading digital insurance payments network One Inc to drive continued growth and product innovation
Strategic investment will support One Inc’s mission to digitalize and modernize the insurance industry
FOLSOM, Calif, March 14, 2024 /PRNewswire/ — Nordic Capital, one of the most active and experienced investors in Technology & Payments globally, today announced that it will join Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies, as an investor in One Inc (the “Company”), a digital payments platform specializing in modernizing the insurance industry in North America. Great Hill Partners invested in One Inc in 2020 and will retain an equal stake to Nordic Capital alongside a significant continuing investment from the Company’s current management team.
Founded in 2012, One Inc’s mission is to help insurance companies digitalize and modernize payments through cutting-edge technology that places customers at the center of every transaction. From premium payments to claims disbursement, One Inc strives to ensure a frictionless experience, merging all payment flows into one comprehensive platform. One Inc Digital Payments Platform is designed to integrate with modern and legacy insurance core systems, engaging policyholders through the channels they use most while securely processing payments through those same channels. Today, the Company has close to 500 employees, handles annual payments of USD 70 billion, and has one of the largest networks in the industry with over 700,000 vendors. One Inc proudly serves over 240 customers in the insurance industry, including Amica Insurance, MAPFRE, SageSure, Tower Hill Insurance, Wawanesa Insurance, and others.
The insurance industry faces a landscape defined by digital transformation, economic shifts, and environmental disruption, prompting it to innovate and optimize. One Inc’s payment network is well-positioned to accelerate and drive transformation, currently demonstrating over 65% year-over-year revenue growth.
Nordic Capital has over 30 years of experience accelerating the growth of innovative technology companies and is set to leverage its deep sub-sector and operational knowledge to create value and boost One Inc’s ambitious plans. Nordic Capital also has a long history of investing in partnerships with owners, founders, and management. It has made 30 technology investments in companies with an aggregate enterprise value of over EUR 24 billion. It made its first investment in Payments 20 years ago and has since partnered with several innovative payment companies, including Point International, Bambora, Trustly, and PayWithMyBank. In addition, Nordic Capital has invested in a variety of financial services businesses – including insurance carriers – for many years, bringing an extensive network of industrial advisors and an in-house operations team. This transaction represents Nordic Capital’s third investment in an innovative software company in North America in the last couple of months.
Fredrik Näslund, Partner and Head of Technology & Payments, and Mohit Agnihotri, Partner, Nordic Capital Advisors, said: “Nordic Capital is a longtime admirer of One Inc, which has stood out for solving the unique and complex challenges of digital payments in the insurance industry. Through its innovative solutions, the Company is transforming and simplifying payments for the entire insurance ecosystem benefitting carriers, consumers, and vendors alike. The management team, together with Great Hill Partners, has achieved impressive results. Nordic Capital is thrilled to be joining them for the next leg of the Company’s growth journey and utilizing our combined deep sector experience, extensive network, and active owner approach to fuel One Inc’s ambitious growth plans even further.”
Matt Vettel and Nick Cayer, Managing Directors at Great Hill Partners, said: “One Inc has been at the forefront of helping to shape the future of the insurance industry through digitalization and transformative products that seek to make the payment process as seamless as possible. Led by a seasoned and talented management team, the Company has consistently demonstrated its ability to innovate for customers. Since our initial investment in One Inc, the business has rapidly grown volume processed by 13x and is still early in market adoption, so we continue to have strong conviction in its potential to further scale. We welcome Nordic Capital to the investor group and look forward to combining our expertise with their deep industry experience to support the Company’s continued growth.”
Ian Drysdale, CEO of One Inc, said: “We have built an amazing business in collaboration with our insurer clients by putting them at the center of everything we do. We continue to see exponential growth and excellent customer loyalty, underscoring the strength of our model and industry-leading payments network of more than 700,000 vendors. The sector experience and resources that Nordic Capital and Great Hill bring to this partnership will fuel additional product innovation and drive new opportunities for growth as we continue to provide solutions that improve efficiency and boost revenue for today’s insurers.”
In addition to One Inc, Great Hill’s current portfolio of financial technology and payment companies includes NMI, Paytronix, Vanco and VersaPay. Prior financial technology and payment investments include Accelerated Payment Technologies, AffiniPay, BillMatrix, Chrome River, Confirmation.com, Custom House, MineralTree and Vigo.
Terms of the transaction were not disclosed, and the investment is subject to customary regulatory approvals.
Raymond James, J.P. Morgan and TD Cowen are serving as financial advisors and Goodwin Procter LLP as legal advisor to One Inc. William Blair is serving as financial advisor and Kirkland & Ellis as legal advisor to Nordic Capital.
About One Inc
One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications and rapid digital claim payments, even for more complex insurance use cases. As one of the fastest-growing digital payments platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claim payments. For more information, please visit www.oneinc.com.
About Nordic Capital
Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested over EUR 25 billion in more than 145 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com.
“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors.”
About Great Hill Partners
Founded in 1998, Great Hill Partners is a private equity firm targeting investments in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. With offices in Boston and London, Great Hill has raised over $12 billion of commitments and invested in more than 95 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has been recognized for its industry leadership, being ranked #4 in the 2023 HEC Paris-Dow Jones Mid-Market Buyout Performance Ranking on March 6, 2024, which evaluated fund performance of 632 leading private equity firms between 2010-20191). For more information, including a list of all Great Hill investments, visit www.greathillpartners.com.
Media contacts:
Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
+46 8 440 50 50
[email protected]
US media contact – Brunswick Group
[email protected]
Great Hill Partners
FGS Global
[email protected]
+1 212 687-8080
One Inc
Ana Pallas
Stanton Public Relations & Marketing
[email protected]
+1 415 867-6262
1) Great Hill Partners did not submit a nomination to be considered for this list nor did it pay to be selected to/included on the list.
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View original content:https://www.prnewswire.co.uk/news-releases/nordic-capital-to-invest-in-leading-digital-insurance-payments-network-one-inc-to-drive-continued-growth-and-product-innovation-302089476.html
LONDON, Dec. 31, 2024 /PRNewswire/ — Tetragon has released its Monthly Factsheet for November 2024.
- Net Asset Value: $3,099m
- Fully Diluted NAV per Share: $34.58
- Share Price (TFG NA): $14.15
- Monthly NAV per Share Total Return: -0.2%
- Monthly Return on Equity: 0.2%
- Most Recent Quarterly Dividend: $0.11
- Dividend Yield: 3.1%
Please refer to important disclosures on page three of the Monthly Factsheet.
Please click below to access the Monthly Factsheet.
About Tetragon:
Tetragon is a Guernsey closed-ended investment company. Its non-voting shares are listed on Euronext in Amsterdam, a regulated market of Euronext Amsterdam N.V., and also traded on the Specialist Fund Segment of the Main Market of the London Stock Exchange. Our investment manager is Tetragon Financial Management LP. Find out more at www.tetragoninv.com.
Tetragon’s non-voting shares are subject to restrictions on ownership by U.S. persons and are not intended for European retail investors.
Please see: https://www.tetragoninv.com/shareholders/additional-information.
Tetragon Investor Relations:
Yuko Thomas
[email protected]
Press Inquiries:
Prosek Partners
[email protected]
U.K. +44 20 3890 9193
U.S. +1 212 279 3115
This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of Tetragon have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States or to U.S. persons unless they are registered under applicable law or exempt from registration. Tetragon does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, Tetragon has not been and will not be registered under the U.S. Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act. Tetragon is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Financial Markets Supervision Act as a collective investment scheme from a designated country.
View original content:https://www.prnewswire.co.uk/news-releases/tetragon-financial-group-limited-november-2024-monthly-factsheet-302340193.html
Fintech PR
IBN Technologies LLC Steps in to Support Clients After Bench Accounting’s Unexpected Closure
MIAMI, Dec. 30, 2024 /PRNewswire/ — Businesses and industries are currently facing the challenge of finding a reliable partner to manage their financial needs due to recent developments. It is crucial for them to search for trustworthy solutions that can ensure financial stability during this uncertain time. Exploring reviews and seeking bench accounting alternative accounting services have become priorities for businesses aiming to maintain uninterrupted financial operations. Partnering with a dependable and efficient service provider is essential for sustained success.
IBN Technologies LLC emerges as a trusted solution, offering comprehensive and customized financial support to businesses across industries. Specializing in outsourced bookkeeping and accounting services, IBN ensures a seamless transition for those affected by recent changes. With decades of experience, the company delivers precision, reliability, and tailored financial strategies to meet the unique needs of each client.
Searching for Bench Accounting alternatives?
IBN Technologies LLC offers seamless outsourcing bookkeeping services to keep your business running smoothly.
Get 30-Minute Free Consultation: https://www.ibntech.com/free-consultation/?pr=prnewswire
A Wide Range of Financial Services Designed for Success
IBN Technologies provides a full spectrum of services to meet the diverse needs of today’s businesses, such as:
- Accurate Bookkeeping: Delivering dependable financial management tailored to meet the dynamic needs of businesses, ensuring precision and timely execution.
- Expert Tax Preparation: Providing compliance-driven, strategic tax solutions designed to maximize deductions and unlock greater savings.
- Effortless Payroll Solutions: Offering streamlined and hassle-free payroll services to ensure seamless employee compensation and operational efficiency.
- Strategic Financial Consulting: Empowering businesses with actionable insights and tax strategies to drive smarter decisions and sustainable growth.
The Impact on the Growth Market
At IBN Technologies, we understand the crucial role that bookkeeping accounting services play in helping businesses make informed decisions, plan for the future, and achieve sustained growth. We recognize the challenges that arise when a trusted provider like Bench Accounting suddenly ceases its operations, leaving businesses in a state of uncertainty.
We are here to ensuring that your reporting deadlines are met, tax compliance is maintained, and operational bottlenecks are minimized.
With our comprehensive range of bookkeeping accounting services, we provide the expertise and guidance necessary to navigate through these disruptions. Our dedicated professionals will work closely with you to understand your unique requirements and tailor our solutions accordingly.
IBN Technologies LLC: A Trusted Partner for the Growth Market
IBN Technologies LLC is committed to helping businesses navigate these turbulent times with tailored financial services. With expertise in outsourced bookkeeping and accounting services, IBN provides scalable solutions designed to meet the dynamic needs of growing companies.
“We understand how vital accurate and timely financial management is for businesses in the growth market,” says Ajay Mehta, CEO of IBN Technologies LLC. He believes that “IBN Technologies team is here to ensure that companies not only recover from this disruption but also emerge stronger, with systems and processes that are built for resilience and success.”
Read or E-book:
Catch-Up Bookkeeping: A Step-by-Step Guide to Financial Clarity & Tax Success
Why Choose IBN Technologies LLC?
- Seamless Onboarding: IBN ensures a smooth transition, minimizing downtime and ensuring uninterrupted financial operations.
- Customized Solutions: From startups to medium-sized businesses, IBN customizes its bookkeeping and accounting services to align with each client’s unique needs.
- Growth-Focused Support: IBN helps businesses scale with confidence by providing insights and strategic advisory services that drive financial clarity.
As businesses in the growth market face this period of change, IBN Technologies LLC offers the stability and expertise needed to turn challenges into opportunities. With IBN as a trusted partner, businesses can focus on what matters most achieving their growth ambitions.
Why Choose IBN Technologies LLC?
IBN Technologies LLC combines advanced technology with a client-first approach to deliver reliable, tailored financial solutions. With a skilled team and a commitment to excellence, businesses can trust IBN to provide the stability and support needed to navigate challenges and thrive.
Our expertise allows us to deliver innovative, customized solutions that align with each client’s goals. “We ensure our clients’ operations run smoothly, no matter the obstacles,” said Ajay Mehta, CEO of IBN Technologies LLC.
About IBN Technologies
IBN Technologies LLC, an outsourcing specialist with 25 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in outsource bookkeeping services, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive efficiency and growth.
Contact Details:
Pradip
[email protected]
+1 – 844 – 644 – 8440
USA:
IBN Technologies LLC
66 West Flagler Street Suite 900 Miami, FL 33130
India: Global Delivery Centre
IBN Technologies Limited
Kohinoor House, 2nd floor,
691/A/1B, Plot no. 7,
Bibwewadi Road, Pune-411037
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Fintech PR
IBN Technologies Steps Up to Support Small Businesses Following Bench Accounting’s Sudden Shutdown
MIAMI, Dec. 30, 2024 /PRNewswire/ — The unexpected closure of Bench Accounting has left thousands of small businesses scrambling to find reliable financial and accounting outsourcing services. This sudden disruption has created a significant gap, leaving many businesses without the external support they once relied on. Announced under the leadership of Bench’s CEO, the closure has forced countless organizations to seek dependable alternatives to manage their financial operations effectively.
In response to this void, IBN Technologies LLC, a global leader in finance and accounting outsourcing, is stepping up to provide tools, expertise, and support small businesses need. With their proven track record and tailored solutions, IBN Technologies ensures that businesses can maintain financial stability and focus on growth during this challenging time.
IBN technologies are a Bench Accounting Alternative
With over 25 years of experience delivering cutting-edge finance and accounting solutions, IBN Technologies is uniquely positioned to provide comprehensive support for businesses impacted by this industry disruption. The company’s scalable and technology-driven services are designed to empower small businesses, enabling them to overcome challenges and achieve long-term stability.
“At IBN Technologies, we empathize with the concerns of small businesses following the recent closure of Bench Accounting,” stated Ajay Mehta, CEO of IBN Technologies. “Our utmost priority is to stand beside these businesses as a reliable partner, offering them the necessary financial expertise to overcome their challenges and forge ahead with confidence.”
Take control of your finances today! Book a free 30-minute consultation with our experts – https://www.ibntech.com/free-consultation/ ?pr=prnewswire
Comprehensive Solutions Customized to Small Businesses
IBN Technologies offers a comprehensive suite of finance and accounting services customized to meet the unique needs of small businesses, including:
- Bookkeeping and Accounting: Seamless bookkeeping services to maintain accurate, compliant financial records effortlessly.
- Payroll Management: Precision payroll processing customized to the specific needs of your workforce.
- Tax Preparation and Filing: Expert assistance to ensure tax compliance while maximizing savings.
- Virtual CFO Services: Strategic financial planning and insights without the cost of a full-time CFO.
- Financial Reporting and Analysis: Real-time insights into financial performance to support smarter, informed decisions.
Rebuilding Confidence in Financial Management
Rebuilding confidence in financial management begins with IBN Technologies. They provide expertise and tools that are needed to streamline business processes, ensure accuracy, and take full control of your finances. Trust IBN Technologies customized solutions to bring stability and drive growth for your business.
“Our mission is to simplify financial management for small businesses while delivering unmatched value,” added by Ajay Mehta. “During this challenging time of Bench Accounting crunch base, we want to extend our unwavering support to all affected businesses. At IBN Technologies, we are committed to being your guiding light throughout this journey, providing the assistance you need at every step.”
About IBN Technologies
With 25 years of industry experience, IBN Technologies has established itself as an outsourcing specialist serving clients across the United States, United Kingdom, Middle East, and India. The company’s solutions adhere to rigorous international standards, including AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standard. Their comprehensive service portfolio encompasses IT, KPO, and BPO outsourcing services, specializing in finance and accounting solutions for CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries.
For businesses seeking to optimize their financial operations through AP automation, IBN Technologies provides expert guidance and support throughout the digital transformation journey, ensuring seamless integration and maximum operational efficiency.
Contact Details:
Pradip
[email protected]
+1 – 844 – 644 – 8440
USA: IBN Technologies LLC
66 West Flagler Street Suite 900 Miami, FL 33130
India: Global Delivery Centre
IBN Technologies Limited
Kohinoor House, 2nd floor,
691/A/1B, Plot no. 7,
Bibwewadi Road, Pune-411037
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View original content:https://www.prnewswire.co.uk/news-releases/ibn-technologies-steps-up-to-support-small-businesses-following-bench-accountings-sudden-shutdown-302340287.html
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