Client Overview

  • The Client is an Australian-based global Insurtech business, headquartered in Sydney with offices in New York, San Francisco, London, Amsterdam, Tokyo, Singapore, Seoul, Kuala Lumpur and Manila
  • Its technology platform enables large digital commerce companies to provide their customers with insurance for their purchases at the point of sale. Insurance is provided by local and global insurance providers across an increasingly broad range of insurance lines, sectors and geographic markets
  • Leap has developed strong relationships with the company’s CEO, CFO, and London-based Chairman

Facility Overview

  • $5 million, 3-year facility structured as one tranche
  • Initial interest-only period, then fully amortising
  • Warrants issued

Commentary

  • The growth credit facility was provided during the COVID-19 pandemic to assist the Client by providing a runway to diversify their business into a broader range of insurance lines and sectors

Providing Value Added Credit

Flexibility

Leap was able to work quickly to understand the borrower’s requirements to structure a deal that provided the business with funding to grow while catering to a range of stakeholders each with different needs.