Private equity investor Palatine has announced the first exit from its Growth Credit Fund following the acquisition of AI-powered software platform Send Technology Solutions (Send).
Developed for the insurance industry, Send’s software platform helps insurance teams make faster, better decisions when dealing with complex risks.
The company has now been acquired by Duck Creek Technologies, a US enterprise technology business serving the global insurance industry.
Palatine first supported Send through its Growth Credit Fund in December 2025. Following this deal, Send was able to accelerate growth in the UK as well as deepen its expansion into the US.
In the six months since funding Send, Palatine has achieved an internal rate of return (IRR) for investors of 90.97 per cent and a Multiple on Invested Capital (MOIC) of 1.37x.
The Palatine Growth Credit Fund was launched in 2023 to back high-growth technology companies in the UK regions. As part of the wider Palatine Group, Palatine Growth Credit sits alongside the sustainably driven, established Buyout and Impact private equity funds.
William Chappel, managing partner of Palatine Growth Credit, said: “It is a privilege to see Send embark on such a successful growth journey that has seen the team join Duck Creek Technologies just six months after our funding.
“We were incredibly impressed with the management team at Send and they should be proud of everything they’ve achieved in recent months. Send has a fantastic product, and I cannot wait to see how they build in the coming years.
“By embracing growth credit, Send has been able to make the most of the quick delivery of low dilutive capital to help them achieve ambitious growth targets. As a fund, we’re excited to see this meaningful impact on a wide range of exciting businesses.”
Andy Moss, previously CEO and co-founder of Send and now general manager of underwriting at Duck Creek, said: “Palatine’s support came at a critical time for our growth, and made all the difference. Beyond the capital, what’s stood out is how easy they’ve been to work with – practical, responsive, and genuinely invested in our success as a partner rather than just a lender.”
Palatine is a UK mid-market private equity investor focused on delivering returns through sustainable growth by building on solid foundations with a commitment to the environment and society.
Palatine was founded in 2005 by partners Gary Tipper, Ed Fazakerley and Tony Dickin.