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(Image source: Tinubu homepage.)
Tinubu (Paris), a provider of cloud-based software for the specialty insurance industry, has raised $45 million in growth capital to support product innovation and expansion. The round was led by Morgan Stanley Expansion Capital (New York).
Morgan Franc, CEO, Tinubu.
The company also confirmed the closing of its acquisition of Innoveo, a no-code enterprise software provider. The acquisition expands Tinubu’s platform capabilities and global footprint.
“This is a transformative moment for Tinubu, and we are thrilled to officially welcome both Morgan Stanley Expansion Capital and Innoveo,” comments Morgan Franc, CEO of Tinubu. “Together, we are investing significantly in our product suite to support the digital transformation of specialty insurance.”
The funding will support research and development, expansion into additional specialty lines, and continued enhancements to Tinubu’s configurable SaaS solutions. The company’s platform serves nearly 50 carriers and more than 150 agencies across five continents, with operations in Paris, New York, Orlando, Zurich, Budapest, Bangalore, and Singapore.
Nick Nocito, Executive Director, Morgan Stanley Expansion Capital.
“We believe the Tinubu platform is already best-in-class for managing and scaling specialty lines,” says Nick Nocito, executive director at Morgan Stanley Expansion Capital. “We are excited to see this leading position strengthen with growth capital, and now with the addition of Innoveo’s highly configurable and complementary solution set.”
Scaling Impact across Specialty Insurance Ecosystem
Vinod Kachroo, CEO of Innoveo, adds: “Our technologies are stronger together. With fresh capital to accelerate our roadmap, we are ready to scale our impact across the specialty insurance ecosystem.”
Vinod Kachroo, CEO, Innoveo.
Long Arc Capital, Tinubu’s long-standing backer, remains a strategic growth partner. “Together, Tinubu and Innoveo represent one of the largest specialty insurance software providers,” says Gaurav Bhandari, managing partner at Long Arc Capital.
