Insurtech conglomerate POP Group Holdings (POP) has received its first external strategic minority investment from private equity fund Direct Capital.
Launched in 2018, POP is composed of specialist M&A and financial lines MGA Fusion Specialty and dedicated specialty insurtech and M&A tech platform io.insure. Over the years, it has grown rapidly and has established a physical presence, client base, and technology platforms in the APAC, the US, the UK, and European markets.
Killian McDermott, co-founder and co-CEO of POP, has welcomed the announcement – highlighting that Direct Capital's proven expertise and experience will be valuable in the insurtech's next growth stage.
“To date, POP has successfully grown without external investment, with an established international footprint, and a unique combination of expert people, sustainable products, and strategic partnerships, driven by pioneering M&A tech and insurtech,” McDermott added.
David Rogers, co-founder and co-CEO of POP, commented: “We welcome Direct Capital as a key partner as we continue the development of a global boutique M&A and specialty insurance services group, delivering on our promise of better customer experiences, and increased value through specialist risk protections, higher levels of responsiveness, greater convenience, and efficiencies.”
Last year, POP launched in Australia “the world's first online mergers and acquisitions (M&A) insurance marketplace for SMEs.”
