The company successfully finalised a $35m senior credit facility with Regions Bank, marking a significant moment for the firm’s strategic plans.
The substantial $35m investment into Slide Insurance was spearheaded by Regions Bank. This move underscores the growing interest from established financial institutions in the potential of disruptive InsurTech firms.
At the heart of Slide Insurance’s services is its mission to revolutionise homeowners insurance. As a full-stack InsurTech company, Slide simplifies the process of selecting the right coverage for modern consumers, making it as effortless and accessible as possible to cater to their unique needs and budgets.
The newly acquired funding will be directed towards advancing Slide Insurance’s technological development and fueling its growth. The company is confident that this investment will significantly boost its financial standing and support its ambitious growth objectives.
Slide has also noted the considerable value of its collaboration with Regions Bank. The partnership extends beyond monetary support, embodying a shared dedication to innovative service delivery within the financial industry.
Slide founder and CEO Bruce Lucas said, “Securing the capital structure to support our technology development and growth has been a key focus since our inception. 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.”
This recent funding round isn’t the first time Slide has drawn substantial investor interest. It comes on the back of an impressive $105m venture-backed series A round which was finalised in November 2021.
Leo Loughead, the head of the Financial Services Group at Regions, shared his enthusiasm for the collaboration, stating, “Regions has a long track record of success with growth-oriented companies in the property and casualty insurance industry. Our work with Slide is a prime example of our team’s ability to deliver tailored capital and advisory solutions in a manner that maximises client outcomes. Regions is proud to be working with Slide and looks forward to collaborating in the future.”
Source: Fintech Global
