Essling invests in VC-backed SPVIE Assurances

The total investment in the company is around €70m, including a debt package provided by a pool of banks. The equity will be drawn down from Essling Expansion Fund, a small-cap and lower-mid-market vehicle that held a first close on €100m in February 2019 and has raised €125m so far, the GP told Unquote.

Essling Expansion Fund targets French companies operating in the digital, healthcare and business services sectors, with enterprise values of €25-200m. The vehicle expects to hold a final close by the end of the year.

The financing injected by Essling Expansion will provide SPVIE with new resources to support its development plan, strengthen the group's organisation, and seize significant external growth opportunities, according to a statement.

SPVIE was backed by venture capital firm Inter Invest Capital in September 2015 to support its growth and expansion both in France and internationally.

Company
Established in 2010 and headquartered in Paris, SPVIE is an insurance broker specialising in life insurance, as well as property and casualty. The company generated revenues of around €40m in 2019.

People
Essling Expansion – Rémi Matuchansky (co-manager).
SPVIE Assurances – Cédric Pironneau (CEO, co-founder); Jérémy Sebag (chair, co-founder).

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