CFC raises $$$
UK-based CFC , the specialist insurance provider and “pioneer in emerging risk,” announced a “major” investment joint-led by EQT and Vitruvian Partners.
Founded in 1999, CFC writes 50 products across 20 different classes of specialist insurance focused primarily on SME businesses. The company servers more than 100,000 businesses in over 90 countries.
“We’re delighted to welcome EQT as an investor alongside Vitruvian. Both EQT and Vitruvian’s focus on high-growth technology companies and commitment to creating a positive impact through their portfolios is a natural fit with CFC and our ethos as an independent, employee-owned business. EQT’s investment, and Vitruvian’s reinvestment, is testament to CFC’s track record of delivering strong, profitable growth underpinned by the expertise of our people and our history of market-leading technology innovation. As we look ahead, we see a risk landscape that is rapidly shifting, with ever-expanding cyber threats, new insurance challenges presented by intangible assets and evolving risks in rapid growth sectors. CFC has a key role to play in helping our growing customer base address these challenges, while the pioneering technology we’ve built over the last two decades is enabling us to deliver at increasing scale. We look forward to partnering with EQT and thank Vitruvian for their continued partnership. It has never been a more exciting time to be at CFC.” – Dave Walsh, CFC founder and Group CEO.
“CFC is a truly innovative insurance business with technology at its core and a track record of growth and profitability which surpasses even the most mature fintech businesses we’ve seen. The accelerating pace of investment in its core platform aligns perfectly with EQT’s approach of future-proofing companies.” – Robert Maclean, Partner at EQT.
“As longstanding partners and investors in CFC, we couldn’t be more enthusiastic about the road ahead. We’ve witnessed first-hand what a remarkable business CFC is – a tribute to the leadership team, the culture they’ve created and the commitment to excellence and innovation that has kept CFC at the forefront of the insurance market.” – Joe O’ Mara, Partner at Vitruvian.
“CFC’s unrivalled reputation in cyber insurance and focus on emerging risk areas ensures that it is well-placed to capture the significant growth expected in the classes it writes. We’re delighted to invest alongside Vitruvian at this exciting stage in CFC’s journey.” – Sofia Ahuja, Managing Director at EQT.
“We would like to thank the whole CFC team for a great partnership over the last four years and we are excited to be able to continue to support their ambitions for the future.” – Stephen Byrne, Partner at Vitruvian.
