Image: Direct Capital has invested in 80 private companies across Australia and New Zealand. Credit: Credit Commerce from Pixabay

Australia-based specialist insurance company Pop Group Holdings has secured its first external strategic minority investment from private equity fund Direct Capital to fund its expansion, reported International Fintech.

Established in 2018, Pop consists of MGA Fusion Specialty, io.insure. 

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MGA Fusion Specialty is into specialist M&A and financial lines, while io.insure is a M&A and insurance technology platform.

Pop Group has offline presence and technology platforms in the APAC, US, UK, and European markets.

Pop co-founder and co-chief executive officer Killian McDermott was quoted by Captive International as saying: “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. Direct Capital‘s proven experience and expertise will be very valuable in our next stage of growth.”

Adding further, Pop co-founder and co-chief executive officer David Rogers said: “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.”

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In its almost three-decade history, Direct Capital’s investor base consists of institutional and intergenerational investors.

Direct Capital has invested in 80 private companies across Australia and New Zealand.