{"id":558862,"date":"2024-05-30T06:47:53","date_gmt":"2024-05-30T05:47:53","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&p=558862"},"modified":"2024-05-30T06:47:53","modified_gmt":"2024-05-30T05:47:53","slug":"apollo-insurance-raises-cad-18-5m-to-launch-bnpl-subsidiary","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/apollo-insurance-raises-cad-18-5m-to-launch-bnpl-subsidiary\/","title":{"rendered":"APOLLO Insurance raises CAD $18.5m to launch BNPL subsidiary"},"content":{"rendered":"

\"APOLLO,Canadian digital insurance provider APOLLO has announced the launch of FinShore<\/a>, its wholly-owned buy-now-pay-later subsidiary. FinShore provides a fully embedded monthly payment option to over 100,000 Canadians insured with APOLLO.<\/p>\n

Fair Capital Partners Inc., as lead arranger and agent, and Innovation Federal Credit Union (IFCU), as lender, provided financing for the new company.<\/p>\n

FinShore will enable Canadians, particularly renters, to benefit from a buy-now-pay-later facility for their insurance premiums. It will also support APOLLO\u2019s<\/a> cohort of insurance broker partners who use the APOLLO platform to transact insurance business on behalf of their clients.<\/p>\n

\u201cEstablishing FinShore is an innovative step forward for APOLLO and will do much to make the lives of Canadian renters easier,\u201d said APOLLO CEO Jeff McCann<\/strong>. \u201cIn this economic climate, particularly with the rise of renting across Canada, consumers are looking for flexibility in their payment options. Thanks to our partners at FairCap, IFCU, and PwC CF, we can offer that to them.\u201d<\/p>\n

APOLLO\u2019s digital platform launched in 2019 and began serving Canadian consumers with fully digital insurance products. Since then, the firm has partnered with property management companies, PropTechs, insurance brokers, and other organizations to embed insurance products into their existing workflows. For property managers, the insurance purchase experience is embedded directly into the leasing workflow. Some of APOLLO\u2019s partners include QuadReal, InterRent, and Yardi Systems.<\/p>\n

\u201cBoth FairCap and IFCU are excited about this opportunity and look forward to building a long-term relationship with APOLLO and FinShore,\u201d said Daniel Nanson, FairCap CEO<\/strong>. \u201cThis venture aligns well with our mission to empower the North American lower middle market with fair, intelligent capital solutions.\u201d<\/p>\n","protected":false},"author":35737,"featured_media":487021,"parent":0,"template":"","categories":[11386],"tags":[12611,14680,12474,13008,11696,28184,19384,45285,45284,11515,45286,41428],"class_list":["post-558862","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-insurtech","tag-americas","tag-apollo","tag-bnpl","tag-buy-now-pay-later","tag-canada","tag-digital-insurance-company","tag-embedded-insurance","tag-fair-capital-partners","tag-finshore","tag-fintech","tag-ifcu","tag-insurance-premium"],"acf":[],"yoast_head":"\nAPOLLO Insurance raises CAD $18.5m to launch BNPL subsidiary<\/title>\n<meta name=\"description\" content=\"Canadian digital insurance provider APOLLO has announced the launch of FinShore, its wholly-owned buy-now-pay-later subsidiary.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/apollo-insurance-raises-cad-18-5m-to-launch-bnpl-subsidiary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"APOLLO Insurance raises CAD $18.5m to launch BNPL subsidiary\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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