APOLLO’s platform launched in 2019 serving Canadian consumers with fully digital products. Since launching, APOLLO has partnered with property management companies, insurance brokers, PropTech providing embedded insurance products to their existing workflows.
APOLLO partners with property managers, embedding insurance purchases directly into the leasing workflow. Some of APOLLO’s partners include QuadReal, InterRent and Yardi Systems.
FinShore will allow customers to take advantage of a BNPL facility for their insurance premiums. It will also allow APOLLO’s insurance broker partners to carry out insurance transactions on their client’s behalf.
The financing for FinsShore was led by Fair Capital Partners as the lead arranger, whilst Innovation Federal Credit Union served as lender. PWC Finance Debt & Capital Advisory acted as exclusive financial advisor to APOLLO and Finshore.
Jeff McCann, APOLLO CEO commented on the new company, saying: “Establishing FinShore is an innovative step forward for APOLLO, and will do much to make the lives of Canadian renters easier. In this economic climate, particularly with the rise of renting across Canada, consumers are looking for flexibility in their payment options. Thanks to our partners at FairCap, IFCU, and PwC CF, we are able to offer that to them.”
Daniel Nanson, FairCap CEO added: “Both FairCap and IFCU are excited about this opportunity, and look forward to building a long-term relationship with APOLLO and FinShore. This venture aligns well with our mission to empower the North American lower middle market with fair, intelligent capital solutions.”
