CFC declares main funding | Insurance coverage Enterprise America
The company has also grown its workforce significantly over the past three years and now employs more than 500 people in the US, UK, Europe and Australia. At the beginning of this year, CFC set up its own Lloyd’s syndicate. The group has an annual premium term of over $ 1 billion.
Upon completion and regulatory approval of the investment, CFC will nearly double its employee shareholders from 175 to more than 300. The employees remain the largest shareholding in the company.
“We are pleased to welcome EQT as an investor alongside Vitruvian,” said Dave Walsh, Founder and Group CEO of CFC. “Both EQT and Vitruvian’s focus on high-growth technology companies and a commitment to making a positive impact through their portfolios fit naturally with CFC and our ethos as an independent, employee-owned company. EQT’s investment and Vitruvian’s reinvestment testify to CFC’s track record in delivering strong, profitable growth backed by our people’s expertise and our history of market-leading technology innovation. “
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“CFC is a truly innovative insurance company with technology at its core and a track record of growth and profitability that surpasses even the most mature fintech companies we have ever seen,” said Robert Maclean, partner at EQT. “The accelerated pace of investment in its core platform fits perfectly with EQT’s approach to future-proofing companies.”
“As long-term partners and investors in CFC, we couldn’t be more excited about the path ahead,” said Joe O’Mara, Partner at Vitruvian. “We saw firsthand what a remarkable company CFC is – a tribute to the leadership team, the culture they have created, and the commitment to excellence and innovation that has kept CFC at the forefront of the insurance market.”