Groupe Santiane investment from BNP Private Equity

Leading online health insurance broker uses institutional partner to finance its wholesale activity

So far, 2011 is shaping up to be as dynamic as previous years (growth forecast in excess of 100%), thanks to the successful launch of its B to B business (wholesale brokerage).

In a bid to support this growth, decided to seek out an institutional player of the first rank that had no ties to the traditional insurance industry. The resulting fundraising, with BNP Paribas Private Equity and organized by Financière Cambon, stands among the biggest deals of the year in the e-business market. BNP Paribas Private Equity is a member of BNP Paribas Investment Partners, the arm of BNP Paribas that handles most of its third-party private equity business. The funds raised will be mainly used to make investments in the brand and to develop the Group’s network of non-proprietary broker partners. is currently reaping the benefits of two strong and durable growth trends that have a multiplier effect on one another: that of the health insurance market itself (which is expected to double in size by 2015) and that of online comparison shopping-policy purchase. In light of the company’s current growth dynamic and the multi-year recurrence of its revenues, it expects revenues to reach 50 m€ by 2013.

“We are delighted to welcome BNP Paris Private Equity to our board of directors. Its experience with growth companies will be of great value to our executive management team. In addition, having a player of this rank among our shareholder base gives a solid boost to our development plans. At the same time, the fact that it has a minority stake allows us to maintain our independence,” noted Christophe Courtin, Chairman of the Group.