This is the tenth international office for Equisoft and celebrates the firm’s 30th anniversary.
Furthermore, this expansion bolsters the company’s position as a pioneer in digital transformation solutions for the financial services industry.
In addition, Equisoft has been a technology provider to insurers in the Caribbean since 2012. Equisoft’s work with around twenty insurers in the region created the need for the office to get nearer to the market and its customers, as well as to address surging demands in the Caribbean.
“As we celebrate Equisoft’s 30th anniversary, the opening of our new office in Port of Spain, Trinidad, stands as a testament to our commitment to innovation and client satisfaction. This expansion is a milestone for us and underscores our dedication to meeting the evolving needs of our clients and the industry” said Ruben Veerasamy, Equisoft senior vice president, Caribbean.
New backers Investissement Québec and the government of Québec made a C$70m ($51.39m) investment in Equisoft.
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The remaining amount came from existing investors Export Development Canada (EDC) and Fondaction.
Set up in 1994, Equisoft plans to use the proceeds to support international expansion both organically and via acquisitions.
The funding will also be used for research and development to further build Equisoft’s integrated life insurance software platform and wealth and investment management solutions.
Currently, Equisoft claims to serve more than 250 financial institutions across 17 nations.