ePayPolicy, a leading integrated electronic payments solutions in the Excess & Surplus (“E&S”) insurance market, announced it received a significant investment from Serent Capital, a San Francisco and Austin based private equity firm focused on investing in high-growth technology and services businesses. ePayPolicy will leverage the Serent investment to accelerate the company’s growth by making it even easier for agencies, MGAs / wholesale brokers, and premium finance companies to seamlessly accept electronic payments.
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ePayPolicy provides an easy-to-use, end-to-end solution with integrations into the most widely used agency management systems. ePayPolicy allows agencies, MGAs / wholesale brokers, and premium finance companies to get up and running with electronic payments in days, dramatically reducing the number of paper checks they process while also simplifying their accounting reconciliation with automated data entry. Since its founding in 2014, ePayPolicy has become one of the market-leading E&S-focused solutions, serving over 2,300 customers, processing over $2 billion in payments annually, and leading in customer satisfaction with customer ratings nearly 5x higher than the market average.
“This investment from Serent is a game-changer in our ability to take our product to the next level in user experience, product offerings, and service enhancements. We’re already the preferred electronic payments solution for 27 state associations and are excited to now bring our product to the rest of the country,” said Todd Sorrel, Co-Founder of ePayPolicy.
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“ePayPolicy’s customer references and satisfaction scores are the some of the best we’ve ever seen. We knew immediately this was a team that knew how to create outstanding products,” stated Kevin Frick, Partner at Serent Capital. “We’re incredibly excited to partner with Todd and Milan to expand ePayPolicy’s market reach and continue to drive exceptional value for their customers.”
ePayPolicy represents Serent Capital’s 9th payments investment and 10th investment in the insurance market. Serent has an active track record in the payments space, having invested in companies such as Diamond Mind, Real Green Systems, KEV Group, and Payliance. Serent has also been active in the insurance market with its platform investments in Intygral, Next Gear Solutions, Senior Dental Care, and Aftermath.