Nordic Capital to invest in One Inc

As per the information detailed in the press release, Nordic Capital intends to unite with Great Hill Partners, which initially invested in One Inc in 2020, and retain an equal stake alongside a significant continuing investment from the payment platform’s current management team.

With its operations started in 2012, One Inc focuses on supporting insurance companies in digitalising and modernising payment via improved technology that provides customer-centric solutions. The company aims to ensure a simplified and convenient experience, combining all payment flows into one comprehensive platform. One Inc Digital Payments Platform is developed to integrate with modern and legacy insurance core systems, assisting policyholders through their most used channels while processing payments securely via those same channels. Currently, One Inc serves approximately 240 customers in the insurance industry, including Amica Insurance, MAPFRE, SageSure, Tower Hill Insurance, and Wawanesa Insurance, among others.

Considering the current insurance landscape, where the industry is defined by digital transformation, economic shifts, and environmental disruptions, the need for innovation and optimisation has increased. Through its sub-sector and operational insight, Nordic Capital intends to create value and expand One Inc’s commitment to accelerating the advancement of the insurance sector. In the past, Nordic Capital invested in a variety of financial services businesses, including insurance carriers, to bring an extensive network of industrial advisors and an in-house operations team. The announcement represents Nordic Capital’s third investment in a software company in North America in the last months.

According to Nordic Capital’s officials, the firm aims to support One Inc in its growth journey and leverage it and Great Hill Partner’s combined sector experience, network, and active owner approach to advance the company’s expansion plans. Representatives from Great Hill Partners underscored that One Inc can support the improvement of the insurance industry through digitalisation and enhanced products that focus on simplifying the payment process. The firm also mentions that, since its initial investment in 2020, One Inc has grown its volume processes and is still early in market adoption.

Furthermore, officials from One Inc underlined that the sector experience and resources that Nordic Capital and Great Hill provide to this collaboration are set to offer solutions that can improve efficiency and increase revenue for insurers. The press release also states that the terms of the transaction were not disclosed, with the investment being subject to customary regulatory approvals. In addition to Once Inc, Great Hill Partners’ portfolio includes NMI, Paytronix, Vanco, and VersaPay.