The company has significantly increased its core numbers over the past three years, and now has more than 500 employees across the United States, the United Kingdom, Europe and Australia. Earlier this year, CFC launched its own Lloyd’s Syndicate. The group’s annual premium run rate is over বিল 1 billion.
Following the completion of the investment and regulatory approval, CFC will double its employee shareholders from about 175 to more than 300. The employees will remain as the largest shareholding block of the company.
“We are delighted to welcome Equity as an investor as well as Vitruvian,” said Dave Walsh, founder and group CEO of CFC. “Both Equity and Vitruvian focus on high-growth technology firms and the commitment to make a positive impact through their portfolios is a normal fit with our policy as a CFC and as an independent, employee-owned business. EQT’s investment, and Vitruvian’s reinvestment, exemplify CFC’s track record of delivering strong, profitable growth based on the skills of our people and our history of market-leading technology innovation.
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“CFC is a truly innovative insurance business with core technology and a growth and profit track record that surpasses even the most mature fintech businesses we have seen,” said Robert McLean, partner at EQT. “The rapid pace of investment in its core platform is fully consistent with the EQT approach of futures-proof firms.”
“As long-term partners and investors in CFC, we couldn’t have been more enthusiastic about the road ahead,” said Joe O’Mara, Vitruvian’s partner. “We have seen that CFC is a great business – respect for the leadership team, the culture they have created and the commitment to excellence and innovation that has put CFC at the forefront of the insurance market.”