Ki Financial raises £385m in growth private equity led by Blackstone to scale its digital syndicate platform.
The funding round was led by Blackstone with participation from Fairfax Financial Holdings.
Ki Financial operates a fully digital and algorithmically driven follow only syndicate in the Lloyd market. The business uses proprietary technology to evaluate policies and provide instant follow capacity to brokers.
Ki Financial has secured £385m in growth private equity backing from Blackstone and Fairfax Financial Holdings. The capital will support the company as it launches its digital platform and scales operations ahead of writing its first risk.
The business functions as a follow only syndicate within the Lloyd market, employing algorithms developed with University College London and a digital infrastructure built by Google Cloud to automate underwriting. Blackstone led the financing round alongside Fairfax.
From the founder
"Securing support from Blackstone, one of the world’s leading investment firms, is a significant statement of confidence in Ki and the vision we have set out. Blackstone’s commitment to Ki completes our world-class group of partners with Fairfax, Brit, Google Cloud and UCL already supporting the business. With our investors, we have the financial firepower to rapidly scale the business and support our plan to provide a truly differentiated offering to brokers and clients."
Mark Allan
CEO of Ki and Group CFO of Brit at Ki Financial
Investor perspective
"Matthew, Mark and the rest of the Ki team have created a unique opportunity in Lloyd’s to revolutionise the market and we are excited to be a part of this, in partnership with Fairfax. Ki’s first-of-its-kind digital model will deliver a unique advantage to its’ business partners which we believe will enable it to build to significant scale, while its algorithmically-driven approach represents an important evolution in the portfolio management of specialty risks."
Qasim Abbas
Senior Managing Director, Blackstone
Use of funds
- 01Expand into international markets
Investors
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About the company
Ki Financial
Ki Financial operates a digital and algorithmic follow only syndicate in the Lloyd market.