Palamon acquires FairConnect

Palamon, along with its financing partners, has invested and committed €100m to FairConnect in a deal that sees Palamon acquiring the majority ownership of the company.

FairConnect will continue to be led by chairman and CEO Carmine Carella. With the new capital, the company expects to double its user base to 400,000 during 2018, while accelerating expansion across verticals and into new markets.

Company
Established in 2016 and headquartered in Stabio, Switzerland, FairConnect offers connected insurance services. Its platform creates unique rates with usage-based premiums and value-added services.

Although headquartered in Switzerland, the company has significant operations in Italy, which it claims is the world's most developed connected car insurance market where 15% of car insurance policies are usage-based.

People
Palamon Capital Partners – Julian Carreras (partner).
FairConnect – Carmine Carella (CEO).

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