The fund MCI.TechVentures seeing enormous growth potential in the insurtech solutions offered by NaviExpert, has decided to remain invested in the company. At the same time, taking advantage of NaviExpert’s very positive financial results, MCI.TechVentures carried out the company’s recapitalization with a fund co-managed by Credit Value Investments.
MCI.TV will remain the key shareholder in NaviExpert. This decision was influenced by the company’s dynamic growth over the last year and the increasing popularity of its usage-based insurance (UBI) products.
“The large potential of the developed products, which combine localization solutions with the insurance sector, as well as the effectiveness of the current NaviExpert Board, resulted in great interest from potential investors. In light of accelerating growth in the insurtech sector and the key role NaviExpert plays in this area on the Polish market, we decided to keep the company in our portfolio and carry out a recapitalization of our position with the involvement of a private debt fund co-managed by CVI,” said Maciej Bogaczyk, Senior Investment Director at MCI Capital/Private Equity Managers. “As a result, the Fund retains a growing company in its portfolio and, at the same time, gains funds that it intends to earmark for other investments that are experiencing growth,” Bogaczyk added.
NaviExpert is the leader in UBI solutions in Poland. In 2015, the company began cooperating with Link4, which belongs to the PZU Group, making it possible to offer drivers motor liability insurance that was connected to their driving style. Thanks to the latest UBI technology, drivers who acquire a motor liability “Kasa Wraca” (Money Back) policy from Link4 can receive a return of over 30% of the price of the policy.
