Equisoft, a Montreal, Canada-based global digital solutions provider to the financial industry, announced that it secured a $125 million equity investment.
The $70 million investment was from new investors Investissement Québec and the government of Québec, with the remainder coming from existing long-time investment partners, Export Development Canada (EDC) and Fondaction.
The new funding will contribute to its global expansion, both organically and through strategic acquisitions. It will also accelerate further development of its integrated life insurance software platform and wealth products to better serve its global customer base.
"Digital transformation and customer experience projects are no longer optional. Equisoft's mission is to help companies through this process – at any stage of digital maturity – by delivering the most trusted solutions for complex financial services challenges. Our customer focused approach has enabled us to gain the confidence of some of the largest financial institutions around the world," said Equisoft CEO, Luis Romero. "We are honored by the trust and funding from our long-time investors and are thrilled to welcome Investissement Québec and the government of Québec as new investment partners. Their focus on domestic and international growth is a great fit with our expansion strategy as we look to further develop our global footprint through continued investment in our people, our products and through international acquisitions."
Equisoft has grown organically at a strong double-digit rate for the last ten years, and it now provides services to over 250 financial institutions across 17 nations. In addition to its already strong North American presence, the company has successfully expanded internationally over the past five years, becoming a major player in LATAM, the Caribbean, and Europe.
Since its inception in Montreal, Quebec, Equisoft has been focused on both its financial growth and positive economic, social, and environmental impact. The company is continuing to develop its end-to-end life insurance and wealth management platforms, which power digital transformation in leading international companies.
Company: Equisoft Inc.
Raised: $125.0M
Round: Equity Investment
Funding Month: March 2023
Lead Investors: Investissement Québec and the government of Québec
Additional Investors: Export Development Canada (EDC) and Fondaction
Company Website: https://www.equisoft.com/
Software Category: Insurance and Investment Digital Solutions
About the Company: Founded in 1994, Equisoft is a global provider of advanced insurance and investment digital solutions. Equisoft offers a complete ecosystem of solutions, from innovative front-end applications to extensive back-office services and unique data migration expertise. The firm's flagship solutions include SaaS policy administration, CRM, financial needs analysis, financial planning, asset allocation, fund, and portfolio analysis, quotes and illustrations, electronic applications, agency management systems, as well as customer, agent, and broker portals. Equisoft is also Oracle's largest and most experienced partner for the OIPA platform. With its business-driven approach, deep industry knowledge, innovative technology, and expert teams based in Canada, the USA, the UK, Chile, Colombia, South Africa, India, and Australia, Equisoft helps its clients tackle any challenge in this era of digital disruption.
Source: https://www.equisoft.com/insights/insurance/equisoft-secures-125-million-in-funding-strengthening-its-position-as-global-tech-leader