Ripe Thinking Limited, a Manchester, UK-based digital underwriting and insurance distribution platform, received a majority investment from Aquiline Capital Partners.
The amount of the deal was not disclosed.
Paul Williams, Chief Executive Officer, and John Woosey, Founder and Managing Director, Ripe is a UK specialist insurtech company bringing together a mix of insurance, digital marketing and tech expertise. Its proprietary technology enables customers to “build their own policy”, providing tailored solutions in an optimised online journey. Since its founding in 1997, Ripe has grown serving a variety of customers across both personal and small commercial lines. Today, Ripe is an insurtech business with more than 280,000 policyholders, protecting their specialised needs across golf, boats, caravans, and cycles, as well as providing insurance to small business owners such as personal trainers, musicians, and photographers.
Products include Golf Care, Cycleplan, Insure4Boats, Insure4Sport and Ripe Caravans.
Aquiline is a private investment firm based in New York and London with $6.9 billion in assets under management, specialising in investments at the intersection of technology and finance. Following this investment, the firm will work with the company’s management team to continue and accelerate the build of a digital insurance distribution platform. Ripe’s management team will continue to be led by CEO Paul Williams and Founder & Managing Director John Woosey, who will retain a significant equity stake, and Marketing Director Sarah Jones.
Closing of the investment is subject to parties obtaining relevant regulatory approval.