June 7, 2022

Further announces new partnership with AnaCap investors

Today we announce an exciting, new partnership with AnaCap Financial Partners which represents a significant milestone in Further’s journey.

AnaCap invests in Further, a leading global niche healthcare insurance and services solutions provider

AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor in technology enabled financial services, announces that it has signed an agreement to invest in Further Underwriting International (“Further”), a leading digitally enabled specialist in the design and development of niche health insurance products and service solutions.

Founded in 2012 and headquartered in Madrid, Further has successfully established itself as a leading, high growth company in its specialty area, with business in over 30 countries through partnerships with more than 300 insurers and employer groups.

With rapid advances in healthcare solutions and a constantly changing landscape in healthcare delivery and consumer needs, Further’s ability to design and deliver ground-breaking solutions in complex areas of healthcare positions it perfectly to continue supporting its partners in an environment of increasing complexity. Further’s unique combination of empathetic customer care and digital enablement means it is ideally placed to respond to these new challenges with a clear mission to level the playing field and provide truly global solutions within the diversity, equity, and inclusion space.

The partnership with AnaCap will enable Further to accelerate its global growth strategy with expansion into new geographies, product categories and partnerships, as well as pursuing acquisition opportunities.

AnaCap will partner with Further, leveraging its expertise at the intersection of the insurance, healthcare and technology sectors, while providing both organic operational and inorganic growth support.

The European insurance market is well known to AnaCap and this transaction builds on AnaCap’s successful track record of investing in technology-enabled insurance businesses, which spans companies such as Simply Business (UK), Oona Health (parent of DSS, Denmark and Sweden) and MRH Trowe (Germany).

Frank Ahedo, Chief Executive Officer at Further, commented:

“We are delighted to secure this operational and financial support and begin an exciting partnership with AnaCap. It was very important for us to partner with a business that has a strong entrepreneurial mindset and an understanding of tech-enabled financial services, particularly in the insurance sector, as well as a shared passion for our mission.

We have found in AnaCap an ideal partner to support our continued global growth and together we are taking Further’s success story to the next level.”

Tassilo Arnhold, Private Equity Partner at AnaCap, added:

“We are very excited to partner with Frank and his team at Further. This partnership ensures AnaCap continues to collaborate with exceptional entrepreneurs and management teams where our prior experience in scaling health InsurTech businesses can be additive. Our investment will help Further to continue expanding in a large, unserved market with unique and socially beneficial products, building on strong business fundamentals and a robust organic growth track record.”

Robert Massey, Managing Director in AnaCap’s Private Equity Portfolio Value Creation Team, concluded:

“Further presents an exciting opportunity to partner with a strong team of entrepreneurs. Our focus will be on the scaling of the business and accelerating growth through selected acquisition opportunities and joint ventures. This partnership will support the expansion of an exciting company with a unique and highly defensible market position and solid existing relationships with re-insurer partners. We look forward to working closely with everyone at Further.”

-ENDS-

For further information, please contact:

EQ
James Culverhouse
+44 (0)20 7223 1100 / +44 (0)7912 508 322
james.culverhouse@eqcorp.co

Notes to the Editor:

AnaCap Financial Partners (www.anacapfp.com)

AnaCap is a leading specialist in the lower to mid-market tech-enabled financial sector, investing through multiple Private Equity led strategies across Europe.

Since 2005, the firm has raised €5.3 billion in gross AUM and completed over 100 primary investments across 16 European jurisdictions and in Asia. AnaCap operates from 7 offices located in London, Luxembourg, New Delhi, Mumbai, Milan, Madrid and Lisbon.

Our name, AnaCap, defines our investment approach: ‘Analytics before Capital’. AnaCap’s investment decisions are founded on a disciplined, operational and data-driven investment approach supported by Minerva, a market leading digital intelligence platform.

Our Private Equity strategy is to align fundamentally with founders or entrepreneurs in need of capital, operational support and expertise. AnaCap’s track record in backing highly successful technology-to-service based financial businesses, with ~70% of deals being sourced on a bi-lateral or pre-emptive basis, stands testament to that approach.

AnaCap institutionalises businesses and regularly executes sophisticated growth strategies such as buy-and-build programmes that leverage a deep sector understanding.

The Further Group (https://www.wegofurther.com)

The Further Group is a leading digitally enabled specialist in the design and development of niche health insurance products and service solutions.

Founded in 2012 and headquartered in Madrid, Further has successfully established itself as a leading company in its specialty area, with business in over 30 countries through partnerships with more than 300 insurers and employer groups.

In 2020 it acquired Trustedoctor, a virtual infrastructure platform with an ecosystem of different professional users in specialised healthcare ranging from doctors and hospitals to patient advocates, navigators and survivors.

Further’s clear mission is to create affordable products and services for poorly met or unmet healthcare needs. We deliver these solutions empathetically through insurers and employers allowing their members and employees to have the best chance of beating a serious or complex medical issues.

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Mei Yan

General Manager, Greater China

Mei Yan directs Further’s business in Greater China, with more than 20 years’ experience in insurance, finance and consulting. This includes MSH, Mercer Consulting and McKinsey.

Ekaterina Ogareva

Director of Business Development (Russia and CIS)

With 20 years’ experience in insurance Business Development, Ekaterina has held a number of directorships and senior roles in the insurance industry, including at Best Doctors, Marsh, Renaissance Life and AIG.

Damien Payne

Director of Corporate Solutions

As one of the company’s co-founders Damien has been a central part of Further’s growth from the beginning. He currently heads up the Corporate Solutions division providing innovative health products and services to large multinationals enabling those employers to deploy these healthcare benefits equally to employees across the globe.

Ignacio San Miguel

Global Business Support Director

An experienced insurance director with a strong background in health and wellness, Ignacio has expertise in insurance operations, new market and product development, customer service and strategic planning. Ignacio drives Further’s business development objectives and handles new client opportunities alongside the sales and operations teams.

Tatiana Macías

Chief Operating Officer

Tatiana is responsible for ensuring Further’s operational excellence and high quality standards that form the strong foundations for supporting and driving our business growth during a time of ongoing change in global healthcare. Tatiana previously held senior leadership roles at Cigna, as well as several key management roles with Swiss Re.

Antonio Lubrano

Group General Manager

Joining the Further team after 27 years in leadership roles at IBM around the world, Antonio brings extensive knowledge in developing and managing strategic, secure and high-performing processes, as well as far-ranging experience in financial operations and processes on an international scale.

Frank Ahedo

Chief Executive Officer

Frank’s expertise in developing turnkey insurance products with a focus on serious illness is guided by his vision for solutions that allow access to top quality international healthcare, regardless of geography. Under his leadership, Further has strengthened and built strong partnerships with leading insurance companies, international banks, multinational brokers and major corporations worldwide.

John smith

CEO

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Let’s face it, no look is really complete without the right finishes. Not to the best of standards, anyway (just tellin’ it like it is, babe). Upgrading your shoe game. Platforms, stilettos, wedges, mules, boots—stretch those legs next time you head out, then rock sliders, sneakers, and flats when it’s time to chill.Let’s face it, no look is really complete without the right finishes. Not to the best of standards, anyway (just tellin’ it like it is, babe). Upgrading your shoe game. Platforms, stilettos, wedges, mules, boots—stretch those legs next time you head out, then rock sliders, sneakers, and flats when it’s time to chill.Let’s face it, no look is really complete without the right finishes. Not to the best of standards, anyway (just tellin’ it like it is, babe). Upgrading your shoe game. Platforms, stilettos, wedges, mules, boots—stretch those legs next time you head out, then rock sliders, sneakers, and flats when it’s time to chill.