Serent Capital Invests in Leonis Client ePayPolicy
Austin and San Francisco – January 9th, 2020 – ePayPolicy, a leading integrated electronic payments solutions in the Excess & Surplus (“E&S”) insurance market, announced it received a significant investment from Serent Capital, a San Francisco and Austin based private equity firm focused on investing in high-growth technology and services businesses. ePayPolicy will leverage the Serent investment to accelerate the company’s growth by making it even easier for agencies, MGAs / wholesale brokers, and premium finance companies to seamlessly accept electronic payments.
ePayPolicy provides an easy-to-use, end-to-end solution with integrations into the most widely used agency management systems. ePayPolicy allows agencies, MGAs / wholesale brokers, and premium finance companies to get up and running with electronic payments in days, dramatically reducing the number of paper checks they process while also simplifying their accounting reconciliation with automated data entry. Since its founding in 2014, ePayPolicy has become one of the market-leading E&S-focused solutions, serving over 2,300 customers, processing over $2 billion in payments annually, and leading in customer satisfaction with customer ratings nearly 5x higher than the market average.
“This investment from Serent is a game-changer in our ability to take our product to the next level in user experience, product offerings, and service enhancements. We’re already the preferred electronic payments solution for 27 state associations and are excited to now bring our product to the rest of the country,” said Todd Sorrel, Co-Founder of ePayPolicy.
“ePayPolicy’s customer references and satisfaction scores are the some of the best we’ve ever seen. We knew immediately this was a team that knew how to create outstanding products,” stated Kevin Frick, Partner at Serent Capital. “We’re incredibly excited to partner with Todd and Milan to expand ePayPolicy’s market reach and continue to drive exceptional value for their customers.”
In executing this transaction, ePayPolicy retained Leonis Partners to maximize shareholder value and identify a leading capital partner that could bring both capital and expertise in scaling rapidly growing businesses. “By customizing our process, calling on their deep contacts in the InsurTech and Payments industry, and by ensuring top level attention to our deal, Leonis helped us choose the right investor for our business and provide an outstanding outcome for our stakeholders,” said Todd Sorrel. “With Robert Koven, who led the transaction, and the Leonis team, we truly felt we had a partner that understood our needs and delivered superior results.”
ePayPolicy provides an easy to use, end-to-end solution with integrations into leading agency management systems allowing agencies, MGAs / wholesale brokers and premium finance companies to get up and running with electronic payments in days, dramatically reduce the number of paper checks they process, while simplifying their accounting reconciliation with automated data entry. Since its founding in 2014, ePayPolicy has become one of the market-leading E&S focused solutions serving over 2,300 customers, processing $2 billion in payments annually, and leading in customer satisfaction with customer ratings nearly 5x higher than the market average. For more information please visit https://epaypolicy.com/.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.
About Leonis Partners
Leonis Partners serves as a full-service advisor to entrepreneurs and their businesses. Calling on decades of experience from some of the largest leading global financial institutions, Leonis crafts highly calibrated solutions to achieve our clients’ needs as it pertains to M&A, Capital Raising, Fairness & Valuation Opinions, and other Special Situations. Our experience and track-record in each of these core areas continues to provide our clients with superior results. The firm is headquartered in New York. For more information on Leonis Partners, visit www.leonispartners.com.