Investment Fortifies Financial Position of Florida-Based Insurtech
Slide Insurance, a full-stack insurtech focused on homeowners insurance, announced the closing of a $35 million senior credit facility with Regions Bank.
“Regions has a long track record of success with growth-oriented companies in the property and casualty insurance industry”
“Securing the capital structure to support our technology development and growth has been a key focus since our inception,” said Slide founder and CEO, Bruce Lucas. “Our start-up year has been exceptional. We appreciate the opportunity to collaborate with Regions Bank on our inaugural credit facility that enhances our financial position and growth objectives.”
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This credit facility builds on the funding Slide secured in its $105 million venture-back series A round which closed in November 2021.
Leo Loughead, head of the Financial Services Group at Regions, said the financial services provided by the bank reflect Regions’ strategic, consultative and relationship-based approach toward client service.
“Regions has a long track record of success with growth-oriented companies in the property and casualty insurance industry,” Loughead said. “Our work with Slide is a prime example of our team’s ability to deliver tailored capital and advisory solutions in a manner that maximizes client outcomes. Regions is proud to be working with Slide and looks forward to collaborating in the future.”
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About Slide
Slide is a full-stack homeowner’s insurtech that makes it easy for modern consumers to choose the right coverage for their unique needs and budgets. Slide’s cutting-edge technology leverages artificial intelligence and big data to hyper-personalize, optimize, and streamline every part of the insurance process. Based in Tampa, FL the company was founded by Bruce and Shannon Lucas, insurance insiders with a deep understanding of how technology can be applied to achieve better underwriting outcomes. Slide launched operations in February 2022 and has quickly grown to become the largest full-stack homeowners insurtech in the country with over $570M of premiums in force.
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