Palatine Growth Credit has backed fast-growing InsurTech platform INSTANDA with a growth credit facility.
The funding will help the business expand internationally, strengthen its team and accelerate investment in technology.
Founded in 2015, INSTANDA developed the world’s first no-code platform for insurance product innovation and complex underwriting.
Over the past 11 years, the business has expanded from its UK base into the US and Australia, with products built on its platform now sold in almost every country worldwide.
INSTANDA’s platform enables insurance carriers, managing general agents (MGAs) and brokers to create policies quickly and efficiently, accelerating time to market.
William Chappel, managing partner of Palatine Growth Credit, said: “We are so excited about the potential of INSTANDA.
“The team has developed an exceptional and exciting bespoke product, and while growth in the UK markets represents a major opportunity for the business, there is a significant amount of global interest already being generated that we’d love to make the most of.
“The management team is in an exceptional place to grow rapidly, and we are thrilled that our growth credit facility will be used for further expansion and success across the globe.”
Tim Hardcastle, CEO of INSTANDA, said: “Since founding INSTANDA in 2015, we’ve built a platform that’s changing how carriers, MGAs and brokers bring insurance products to market, and global demand has never been stronger.
“Palatine Growth Credit’s backing gives us the firepower to scale our team, strengthen our infrastructure, and deepen our investment in AI and data science, accelerating our growth across existing and new markets worldwide.”
The funding will be deployed across three strategic priorities: scale, talent and technology.
Palatine Growth Credit’s fund was launched in 2024 to back high-growth technology companies across the UK and sits alongside Palatine’s established Buyout and Impact funds within the wider Palatine Group.
INSTANDA chose to partner with Palatine because of its track record of backing ambitious technology companies and its deep understanding of the sector.
Founded in 2005 by partners Gary Tipper, Ed Fazakerley and Tony Dickin, Palatine has raised five Buyout Funds and was the first private equity firm in its market to launch returns-focused Impact Funds, led by Beth Houghton. The firm is headquartered in Manchester, with offices in London and Birmingham.