Nordic Capital to invest in One Inc
Private equity firm Nordic Capital will join Great Hill Partners as an investor in One Inc, a provider of digital payments solutions for the insurance industry in North America. Great Hill Partners invested in One Inc in 2020 and will retain an equal stake to Nordic Capital alongside a significant continuing investment from the company’s current management team.
Founded in 2012, One Inc offers a platform to process digital payments for premiums and claims, which can integrate with modern and legacy insurance core systems. The company has close to 500 employees, handles annual payments of $70 billion, and serves over 240 customers in the insurance industry, including Amica Insurance, MAPFRE, SageSure, Tower Hill Insurance, Wawanesa Insurance, and others.
“Nordic Capital is a longtime admirer of One Inc, which has stood out for solving the unique and complex challenges of digital payments in the insurance industry. Through its innovative solutions, the Company is transforming and simplifying payments for the entire insurance ecosystem benefitting carriers, consumers, and vendors alike. The management team, together with Great Hill Partners, has achieved impressive results. Nordic Capital is thrilled to be joining them for the next leg of the Company’s growth journey and utilizing our combined deep sector experience, extensive network, and active owner approach to fuel One Inc’s ambitious growth plans even further.” – Fredrik Näslund, Partner and Head of Technology & Payments, and Mohit Agnihotri, Partner, Nordic Capital Advisors.
“One Inc has been at the forefront of helping to shape the future of the insurance industry through digitalization and transformative products that seek to make the payment process as seamless as possible. Led by a seasoned and talented management team, the Company has consistently demonstrated its ability to innovate for customers. Since our initial investment in One Inc, the business has rapidly grown volume processed by 13x and is still early in market adoption, so we continue to have strong conviction in its potential to further scale. We welcome Nordic Capital to the investor group and look forward to combining our expertise with their deep industry experience to support the Company’s continued growth.” – Matt Vettel and Nick Cayer, Managing Directors at Great Hill Partners.
“We have built an amazing business in collaboration with our insurer clients by putting them at the center of everything we do. We continue to see exponential growth and excellent customer loyalty, underscoring the strength of our model and industry-leading payments network of more than 700,000 vendors. The sector experience and resources that Nordic Capital and Great Hill bring to this partnership will fuel additional product innovation and drive new opportunities for growth as we continue to provide solutions that improve efficiency and boost revenue for today’s insurers.” – Ian Drysdale, CEO of One Inc.
