October 30, 2018
SSQ Insurance set to increase innovation opportunities with fintech fund investment
SSQ Insurance is investing in Portag3 Ventures II LP (Fund II), the second fintech fund launched by Portag3 Ventures, one of the few global investment platforms dedicated exclusively to financial and insurance technology. Portag3’s strength is matching emerging talent and capital to create and support the ambitions of compelling fintech entrepreneurs.
Strategically leveraging innovation for SSQ Insurance, Fund II will closely involve identifying promising and innovative financial technology businesses in sectors as varied as personal finance, investment management, savings, life insurance, general insurance and health insurance. Investing in Fund II will also give SSQ Insurance the opportunity to invest directly in technology associated with its products and services as well as the potential needs of its clients.
“Portag3 Ventures is providing SSQ Insurance with the unique opportunity to position itself to meet the challenges inherent in digital advances and the rapidly changing needs of consumers,” said SSQ Insurance’s Chief Executive Officer, Jean-François Chalifoux. “We are proud to participate in this fund, which will position us to keep abreast of new business innovation opportunities and to observe new technology firsthand and how it may benefit our clients.”
Portag3 Ventures employs a team of experienced professionals and enjoys a sound strategic reach. Fund II, with its investors from the insurance, banking and financial services sectors, follows up on the success of the first fund launched by Portag3 Ventures in 2016, which also focused on investments providing support to global financial and insurance technology entrepreneurs.
About SSQ Insurance
Founded in 1944, SSQ Insurance is a mutualist company that puts community at the heart of insurance. With assets under management of $12 billion, SSQ Insurance is one of the largest companies in the industry. Working for a community of over three million customers, SSQ Insurance employs 2,000 people. Leader in group insurance, the company also sets itself apart through its expertise in individual life and health insurance, general insurance and the investment sector.