Insurtech company Xceedance has announced a growth investment from Portage Capital Solutions, which specialises in the fintech sector.
The investment, which grants Portage a minority equity stake, brings Xceedance’s total capital, including both debt and equity, to an estimated $100m.
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The infusion of capital is earmarked for the enhancement of the company’s AI-enabled solution portfolio and the potential acquisition of additional insurance service providers.
Xceedance CEO and founder Arun Balakrishnan said: “Since inception, Xceedance has enjoyed exceptional, bootstrapped growth, scaling rapidly through profit reinvestment and the prudent use of debt.
“This investment not only strengthens our capital base but also connects us to Portage’s exceptional ecosystem in the insurance, technology and broader financial services markets, unlocking meaningful synergies that will help accelerate our growth.”
This transaction represents the first instance of institutional equity financing for Xceedance since its establishment in 2013.
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By GlobalDataThe advisory team for Xceedance in this investment comprised Ernst & Young, Morgan Partners and Norton Rose Fulbright, while Portage Capital Solutions received counsel from RSM and Paul Hastings.
Portage Capital Solutions co-head and general partner Dan Ballen said: “Xceedance has established itself as a best-in-class partner to both small, innovative insurers as well as some of the largest, most trusted names in the industry.
“With the rapid adoption of digital solutions across the market, Xceedance is poised for continued growth and expanded opportunities as a recognised thought leader to its clients and partners.”
Xceedance serves more than 350 insurance clients worldwide and manages more than 1,000 complex property and casualty workflows.
The company’s growth trajectory includes the development of its third-party administrator platform and the strategic acquisitions of Millenium Information Services and CIS Claim Services, which have expanded its range of services and global standing.
In June 2025, Xceedance partnered with Cogitate to facilitate the launch of the Colorado FAIR Plan, which commenced policy issuance in the spring of 2025.
