Earnix Secures $290M Investment from JVP and TPG for Global Expansion
Earnix, a leading insurtech company, has announced a significant investment from Jerusalem Venture Partners (JVP) and US-based alternative asset manager TPG. The move aims to bolster Earnix's global expansion efforts and strengthen its position in the market.
JVP, which already has a stake in Earnix, will increase its ownership to over 50% following the transaction. The capital raised, amounting to $290m (NIS966.97m), will primarily be used to buy out early JVP investors, who have the option to roll over their investment or realise returns.
Earnix's CEO, Robin Gilthrope, expressed excitement about the partnership with JVP and TPG. He highlighted the company's cloud-native, AI-driven platform, which offers real-time decision-making capabilities in pricing, underwriting, and product personalisation. This platform has been adopted by over 100 tier-one insurance companies across more than 35 countries.
JVP's founder and executive chairman, Erel Margalit, is also delighted about the partnership with TPG. He sees this investment as a strategic move to support Earnix's growth and expansion.
With this transaction, Earnix's global expansion efforts are set to accelerate. The company's innovative platform and strong partnerships promise to drive further growth and success in the insurtech industry.
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