LONDON, June 24, 2022 – Proskauer, a leading international law firm, has advised Toscafund, one of Europe’s leading growth equity investment firms for financial services companies, on its participation as lead investor in a $45million fundraising round for INSTANDA, a UK-based insurance services platform catering for insurance carriers, MGAs and insurance brokers globally.
The funds will be used to grow the company’s geographical presence in Europe, US, Japan and the UAE, as well as to rapidly augment platform capabilities including developing the existing ecosystem into a future-proofed marketplace. This move will further cement its position as the insurance industry’s most adaptive, fast, best value end-to-end platform for carriers, brokers and MGAs.
As the world’s first no-code dedicated insurance platform, INSTANDA digitises the complex insurance value chain with its core digital PAS and an interface that allows business users to innovate, manage and distribute insurance products across all lines within P&C and Life and Health.
The Proskauer team was led by partner Andrew Houghton and associates Karim El-Borhami, Shahmir Khan and paralegal Katrina Hart (M&A) and special counsel Richard Miller and associate Emma McDonnell (Tax).
Proskauer has a wealth of experience in financial services, advising on deals across the full breadth of the sector, including fintech, insurance/insuretech, payments and wealth management. Most recently, the Firm has advised advised Lovell Minnick Partners on the signing of a definitive agreement to acquire a majority stake in London & Capital; advised Global Shares Plc and its stakeholders on the sale of Global Shares to J.P Morgan; advised on the sale of ENRA Specialist Finance to Elliot Advisors and acted for insurance fintech CFC and its stakeholders on a significant investment joint-led by EQT and Vitruvian Partners, two of Europe’s leading private equity firms.
We are 800+ lawyers serving clients from 12 offices located in the leading financial and business centers in the Americas, Europe and Asia. Proskauer offers a full suite of services for the investment management industry, with a market-leading global team dedicated solely to advising private equity, hedge funds, other asset managers, investment funds, financial institutions and institutional investors across all asset classes. The cross border team of over 180 lawyers is based in the U.S., UK, Asia and Latin America and includes specialists in tax, ERISA, regulation, capital markets, employment, insurance, fund finance, litigation and risk management who understand the unique technical and commercial issues relevant to investment managers.
Proskauer has one of the premier global mergers and acquisitions practices. Over the past two years, we have advised on over 200 M&A transactions with an aggregate value of over $165 billion. Last year, the Firm advised on some of the most complex M&A transactions across a range of industries. Recent representations include advising long-time client Stamps.com in its $6.6 billion acquisition by leading software investment firm, Thoma Bravo; representing Accor in connection with its exclusive negotiations with Ennismore to form the world’s leading lifestyle operator in the hospitality sector; and counseling Grifols and its affiliate Biomat in a $1 billion investment by the Singaporean Sovereign Wealth Fund GIC.