Gallatin Point invests $100m in Insurance Supermarket International

• As a result of the deal, Gallatin Point will appoint its co-founder and Managing Partner Matt Botein to ISI’s board of directors
• RBC Capital Markets served as exclusive placement agent
• Stikeman Elliott LLP and Kirkland & Ellis LLP acted as legal advisors to ISI while Goodwin Procter LLP and Torys LLP acted as legal advisors to Gallatin Point

Concord, Ontario-based Insurance Supermarket International (ISI), a digital life insurance distribution platform, has secured a $100 million minority growth equity investment from Gallatin Point Capital.

As a result of this transaction, Gallatin Point will appoint its co-founder and Managing Partner, Matt Botein, to ISI’s board of directors.

This transaction represents ISI’s first institutional equity round since launching its digital distribution and administration platform in 2015. The proceeds will be used to accelerate ISI’s profitable growth in life insurance across North America and to scale its technology-driven platform services and distribution channels.

“Our main objective when we started this process with RBC was to find the right partner,” said Alex Dudarev, founder and CEO of ISI, in a statement. “Gallatin Point’s knowledge of the sector and the alignment of our vision for the future of the insurance industry allows us to touch and improve more lives and to help the life insurance industry transition to the digital age.”

RBC Capital Markets served as exclusive placement agent. Stikeman Elliott LLP and Kirkland & Ellis LLP acted as legal advisors to the Company. Goodwin Procter LLP and Torys LLP acted as legal advisors to Gallatin Point.

Based in Greenwich, Connecticut, Gallatin Point invests in financial institutions, services and assets.