Insurtech Tinubu Square raises €15m capital investments
Tinubu Square, a provider of enterprise software solutions to credit and surety insurers, has secured an additional investment of €15 million by New York-based Long Arc Capital and the French investment bank Bpifrance.
The insurtech intends to use the funds to target high growth international markets for credit insurance and surety software.
In 2018, Tinubu Square launched a five-year strategic plan to expand its global footprint and propel innovation. At the end of 2017, Long Arc Capital and Bpifrance invested €53 million in Tinubu Square.
“The early results of our 5-year plan have already been extremely successful,” said Jérôme Pezé, CEO. “In just two years, we have more than doubled our annual recurring software revenue.”
Olivier Placca, deputy CEO, added: “We have a clear vision of what we need to do to achieve our goals over the next three years. Our teams, our shareholders and our partners are all aligned and committed to our mission.”
Vincent Fleury, Tinubu board member and a partner of Long Arc Capital, said: “The Tinubu team has performed incredibly well over the last few years. The business is now poised to become the market-leading enabler of digital transformations for the Credit and Surety Insurance industries. With this additional capital, we expect Tinubu will achieve new levels of success in the U.S. as well as in the rest of the world.”
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