Acrisure secures $2.1bn in latest funding round
Acrisure has raised $2.1 billion in a Bain Capital-led funding round to boost its fintech push for small and medium-sized enterprises.
Other investors include Fidelity Management & Research Company, Apollo Funds, Gallatin Point and BDT & MSD Partners, which remains the largest minority shareholder.
The funding round boosts Acrisure’s valuation to $32 billion, a 40% leap since its last raise three years ago.
Acrisure intends to grow its footprint and offerings through strategic M&A, fully integrating its platform built from nearly 900 acquisitions, and drive organic growth with tailored solutions — from real estate to cybersecurity, payroll, and retirement services.
Funds will refinance existing preferred stock, fuel M&A deals, and fast-track Acrisure’s growth as a technology-driven fintech provider for SMEs worldwide, the broker said.
“This transaction represents a significant milestone and serves as proof that our vision for Acrisure’s scaled platform has become a reality,” said Greg Williams, chairman, CEO and co-founder of Acrisure. “Our evolution from an insurance brokerage into an AI- and technology-powered global financial services provider has opened the door to massive opportunity. I see limitless potential for how far Acrisure can go, and we’re extremely grateful for the financial support and validation from our investors.”
Cristian Jitianu, partner at Bain Capital who will be joining Acrisure’s board of directors, said “Greg and his talented leadership team have built an impressive business that is clearly differentiated by its combination of entrepreneurial DNA, cutting-edge technology capabilities and deep industry expertise.
“We are pleased to be selected as Acrisure’s partner of choice on this transaction and look forward to supporting their continued growth strategy as the company builds on its success delivering the right personalised insurance and business solutions to its clients.”
Morgan Stanley & Co served as sole and exclusive placement agent and Skadden, Arps, Slate, Meagher & Flom and Varnum served as legal counsel to Acrisure.
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