Groupe Santiane investment from Sagard

Online health and life insurance broker raises €40 million to pursue rapid growth

Santiane Group was founded in 2006 and operates through two wholly owned subsidiaries : the online insurance aggregator and the insurance wholesaler Néoliane. Santiane Group is the leader in online health insurance and death & disability insurance. In 2012, the consolidated revenue of the firm grew 97% to reach €24 million. This fundraising will allow Santiane to boost the growth of its wholesale subsidiary Néoliane Santé, to increase R&D spending and to further diversify its product offering. The fundraising was a cash transaction ; no debt was raised during this round.

Pierre-Alain de Malleray, Managing Director, declared : "Santiane's potential for organic growth in France remains very strong as the rules governing the insurance distribution sector are rapidly changing. With Sagard's involvement, we are now seriously considering buyout opportunities as well as all available options for an international expansion." Frédéric Stolar, Partner at Sagard, said : “We are delighted to invest in Santiane whose modelhas changed the paradigm in the French health insurance industry. The transaction is seamlessly aligned with our investment philosophy, which is to support an exceptional management team in driving strong growth; while the venture capital aspect of the operation is rather unusual for Sagard.” The investor Jacques Veyrat will also acquire a stake in the firm while BNP PE, shareholder since 2011, exits.

Following the closing of the transaction, the founders, the Courtin family and key managers will keep the majority stake as well as their functions within the Group.

Santiane Group is an insurance broker specializing in the design, the comparison and the distribution of insurance products aimed at individuals. With a 2012 consolidated revenue of €24 million, the group has posted an average growth rate of 122% per annum since 2008. Santiane's staff (200 employees) is based in France, where the company was founded. The group collaborates with the biggest names in the insurance industry (AXA, Generali, April, SMAM Mutuelle, Groupe Prévoir, Mutuelle UMC, Ugip) and can provide, through its subsidiary, over 300 insurance quotes from 16 companies.