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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Udaiveer Anand

Chief Financial Officer

Udai joined Further as CFO in February 2024 and is responsible for driving profitable growth of the business, working closely with our CEO and investors. He brings 20 years´ experience working in finance and the insurance industry, for large, global listed insurers (Aviva, RSA), as well as working for private equity backed insurance businesses, both as an M&A and financial advisor, as well as CFO and member of the Executive Committee. Udai is a qualified UK Chartered Accountant, having worked at PriceWaterhouseCoopers and Ernst & Young in the UK. He holds an MSc. in Economics and Finance from the University of Warwick, UK.

Mei Yan

Chairwoman, Greater China

Mei Yan built up Further’s business in Greater China and is currently Chairwoman of Further’s business there, with more than 20 years’ experience in insurance, finance and consulting. This includes MSH, Mercer Consulting and McKinsey.

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.

Antonio Lubrano

Group General Manager and Chief Financial Officer

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.

Tatiana Macías

Head of Governance, Risk, and Compliance

Tatiana, as the Head of Governance, Risk, and Compliance, holds a pivotal role in our organization, overseeing the corporate governance framework, driving strategic initiatives, ensuring regulatory and legal compliance, managing risk, and fortifying internal controls. Her responsibilities extend across multiple countries, aligning policies with industry best practices. Additionally, in her capacity as the Company Secretary, Tatiana ensures comprehensive corporate compliance, safeguarding the organization’s integrity and ethical standards.

 

Previously Chief of Staff / Chief Operating Officer, ensuring Further’s operational excellence, Tatiana has also held senior leadership roles in Operations at Cigna, as well as key management roles with Swiss Re.

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.

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.

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.

Ana Antunes

Global Head of Customer Operations

Ana is responsible for global Customer Operations and Medical Management, providing strategic, operational, and clinical leadership from product ideation to operational implementation. Ana works every day with a purpose: to make a positive impact on people’s lives and with a commitment to always deliver customer value. Ana previously held key management roles in the Health Insurance sector as well as in the clinical setting as Operating Room Head Nurse.

Nuno Mergulhão

Chief Information Officer

An experienced information technology leader with a strong background in pharmaceutical, industrial, and retail industries, Nuno has expertise in delivering on transformative technologies in areas like CRMs, ERPs, WCMS, Omnichannel and Cloud Computing on a local and global scale.

Yaan Cao

General Manager China

Yaan is responsible for managing Further’s business in China. He was part of the core team involved in the company’s entry into China and South East Asia and supported the business development in both regions.

Fernando Muñoz

Head of Business Transformation

Fernando contributes with strategic insights, business acumen and operational experience acquired through a long track of complex transformational programs in Accenture and Cigna, where he developed IT and Service Operations leadership roles in dynamic, global and business-challenging contexts.

Amanda Frayne

Chief Legal Officer

Amanda is our Chief Legal Officer and provides her strategic and commercially driven leadership and expertise to our business globally in all areas related to law, regulation, and compliance. Amanda has over 20 years’ international and cross border industry experience in legal, compliance, strategy, and transformation within a broad range of global industry sectors from insurance and technology to travel and customer engagement/loyalty. Prior to joining Further, Amanda established, led, and developed the global legal function at Collinson Group – a global privately owned group of companies spanning a range of sectors with over 1,700 employees, 1,500 clients and servicing over 400 million consumers globally.

Greg Jarzabek

Chief Digital Officer

Greg joined Further following their acquisition of Trustedoctor digital platform. He is responsible for digital transformation and digital stakeholders’ journey in Further products. Greg is an experienced co-founder with a demonstrated history of working in the health and wellness industry. Greg has previously held senior leadership positions in the financial industry at Mitsubishi UFJ and Merrill Lynch after graduating from Harvard Business School.

Nicola Carter

Chief Product Officer

Nicola has over 20 years’ experience in underwriting, product development and marketing in leading international insurance companies. At Further, she is responsible for developing innovative health-related insurance products & services and building sustainable relationships with our key reinsurance partners.

Joe Romanos

Global Head of Sales and Account Management

A lawyer by background, Joe started his career in insurance and health services after completing a Master’s in Global Management at the Antwerp Management School. Over the last 7 years, he has built a successful track record in several commercial functions, first as an individual contributor and, thereafter, as a leader. Joe joined Further in June 2022 to strengthen Further’s commercial capabilities and enable the team to deliver against the business’ growth ambitions.

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.