New York-headquartered business process management company ReSource has received an investment from DFW Capital Partners.
This is DFW’s fourth investment made by its latest investment vehicle DFW Capital Partners V, which closed on $360m in 2016.
The funding comes alongside a ‘significant investment’ from ReSource’s management team and will be used to expand its client base and increase the current offerings for existing users.
ReSource Pro provides strategic business process management and outsourcing capabilities to the insurance industry. Insurance agencies, managing general agents, wholesale insurance distributors, insurance program managers, TPAs and specialty insurance carriers can implement the platform to support the back-office processes and business analytics.
Some of the services include claims handling, accounting, policy serving, renewal, lean process mapping, employee performance, policy insights, executive insights and submission-to-issue, among others.
ReSource Pro CEO Dan Epstein said, “We’ve found a genuine partner in DFW both in terms the opportunity we see to support operational transformation in the insurance industry and also in the alignment of our business cultures.”
Debt financing for the transaction was provided to DFW by PineBridge Investments and Madison Capital.
This is DFW’s second FinTech investment this year, having made a strategic commitment into data technology platform INSIGHT2PROFIT. The company raised the capital to invest in its human capital resources and its technology.
DFW looks to invest in businesses that have an EBITDA between $3m and $10m, as well as a revenue from $20m to $100m.
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