TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
October 16, 2024
Source: Businesswire
Funding accelerates Zinnia’s mission to power industry growth by modernizing the life and annuity experience
GREENWICH, Conn.--(BUSINESS WIRE)--Zinnia, a leading life and annuity (L&A) insurance technology company, today announced $300 million in financing from Vista Credit Partners, a subsidiary of Vista Equity Partners and a strategic credit and financing partner focused on the enterprise software, data, and technology markets. The new financing will be used to accelerate Zinnia’s go-to-market strategy.
“As longevity creates an ever-growing market opportunity for retirement products with consumers and advisors, we are proud that our widely deployed platforms are enabling that growth. Vista Credit Partners’ investment comes at the perfect time to accelerate our strategy,” said Michele Trogni, CEO of Zinnia.
L&A products are experiencing unprecedented growth as the next generation looks for effective wealth management tools to build their retirement plans. Data from the Life Insurance Marketing and Research Association (LIMRA) shows that U.S. annuity sales have grown at a rate of more than 20% every year since 2021, with their latest report revealing record breaking sales in the first half of 2024.
“Zinnia’s products enable L&A distribution at scale in a standardized and automated way, and their mission-critical solutions give carriers faster market entry, distributors confidence in the products they recommend, and consumers increased trust in what they’re buying,” said David Flannery, President at Vista Credit Partners. “As a credit platform that specializes in providing scaled solutions to leading enterprise software businesses, we are pleased to help capitalize this exciting next phase of Zinnia’s growth alongside a terrific sponsor in Eldridge Industries.”
Advisors
Milbank LLP served as Zinnia’s legal counsel alongside financial advisors RBC Capital Markets, LLC.
Akin Gump served as legal advisor to Vista Credit Partners.
About Zinnia
Zinnia, an Eldridge Industries business, simplifies L&A insurance by delivering comprehensive technology solutions for the industry’s most critical needs. Zinnia enables carriers and distributors to build, sell, and service insurance, ultimately helping more people get the coverage they need and the service they deserve. Zinnia is also backed by funds managed by KKR and Vista Credit Partners, leading global investment firms. To learn more about Zinnia, please visit https://zinnia.com/.
About Vista Credit Partners
Vista Credit Partners is the credit-investing arm of Vista Equity Partners and is a strategic investor and financing partner focused on the growing enterprise software, data, and technology markets. Vista Credit Partners employs a highly disciplined approach to credit investing while maintaining flexibility to pursue investments offering the best relative value and investing across the capital structure. As of March 31, 2024, Vista Credit Partners has grown to over $8.1 billion of assets under management. Since its formation in 2013 and as of June 30, 2024, Vista Credit Partners has deployed over $12.2 billion. For more information, please visit www.vistacreditpartners.com.
Vista Credit Partners offers solutions tailored to strategic objectives with growth-friendly terms and long-term investment horizons across both the private and broadly syndicated markets, sourcing deals directly from founder-led companies, through sponsor relationships, and from its deep network of experts, advisors, and other intermediaries to support growth and unlock value through creative capital solutions and operational partnership. Vista Credit Partners has completed more than 630 software and technology transactions since its inception.
Contacts
Media
Zinnia
Prosek Partners: pro-zinnia@prosek.com
Vista Credit Partners
Brian W. Steel: (212) 804-9170 / media@vistaequitypartners.com