One Inc. was established in 2012 with the goal of assisting insurance firms in modernizing and digitizing payments by utilizing state-of-the-art technology that puts the client at the center of every transaction. One Inc. unifies all payment processes into a single, all-inclusive platform in order to guarantee a seamless experience, from premium payments to claims disbursement. Using the channels that policyholders like to interact through, the One Inc Digital Payments Platform securely processes payments across both legacy and contemporary insurance core systems. Presently, the organization manages payments of USD 70 billion annually, employs about 500 people, and boasts one of the biggest networks in the sector with more than 700,000 merchants.In the insurance sector, One Inc. is pleased to work with over 240 clients, including Wawanesa Insurance, MAPFRE, SageSure, Tower Hill Insurance, and Amica Insurance.

The insurance sector is forced to innovate and optimize in response to a world characterized by digital revolution, economic upheaval, and environmental damage. With over 65% revenue growth year over year, One Inc.'s payment network is well-positioned to promote transformation and accelerate development.

With more than 30 years of expertise in fostering the expansion of cutting-edge technology businesses, Nordic Capital is poised to use its extensive operational and subsector knowledge to generate value and support One Inc.'s audacious goals. Additionally, Nordic Capital has a lengthy history of making investments in joint ventures with founders, owners, and management. It has invested in 30 technology-related businesses, totaling more than EUR 24 billion in enterprise value. Since making its first investment in payments 20 years ago, it has collaborated with a number of cutting-edge payment firms, such as PayWithMyBank, Bambora, Point International, and Trustly.Furthermore, Nordic Capital brings a vast network of industry advisors and an internal operations team to its investments in a range of financial services companies, including insurance providers, over a long period of time. With this deal, Nordic Capital has now made three investments in cutting-edge North American software companies in as many months.

Partner and Head of Technology & Payments Fredrik Näslund, along with Partner Mohit Agnihotri of Nordic Capital Advisors, stated: "One Inc. has been a longstanding favorite of Nordic Capital, since it has demonstrated a commitment to resolving the distinctive and intricate problems associated with digital payments in the insurance sector. The company is revolutionizing and streamlining payments for the insurance industry as a whole, helping vendors, customers, and carriers equally with its creative solutions. The management group and Great Hill Partners have produced outstanding outcomes. Nordic Capital is excited to be going on this next phase of the company's growth adventure with One Inc. We hope to further fuel the company's ambitious growth objectives with our combined deep industry experience, wide network, and active owner attitude.
 

"One Inc has been at the forefront of helping to shape the future of the insurance industry through digitalization and transformative products that seek to make the payment process as seamless as possible," stated Great Hill Partners' managing directors, Matt Vettel and Nick Cayer. Under the direction of an experienced and skilled management group, the company has continuously proven its capacity to innovate for clients. We remain very confident in One Inc.'s ability to develop even further, since the company has grown its volume handled by 13 times since our first investment and is still in its early stages of market adoption.We are pleased to have Nordic Capital join our investor group and are eager to leverage our combined industry experience and knowledge to further the company's growth.

"We have built an amazing business in collaboration with our insurer clients by putting them at the center of everything we do," One Inc. CEO Ian Drysdale stated. We continue to have outstanding customer loyalty and exponential growth, which highlights the robustness of our business model and the largest payments network in the industry, comprising over 700,000 businesses. As we continue to offer solutions that increase productivity and generate income for today's insurers, the resources and industry knowledge that Nordic Capital and Great Hill bring to our collaboration will spur fresh product innovation and open up new growth prospects.
 

Great Hill currently owns the financial technology and payment businesses NMI, Paytronix, Vanco, and VersaPay in addition to One Inc. Accelerated Payment Technologies, AffiniPay, BillMatrix, Chrome River, Confirmation.com, Custom House, MineralTree, and Vigo are a few examples of previous financial technology and payment ventures.

The transaction's terms were not made public, and the investor needs to receive the usual regulatory approvals.

One Inc. is receiving legal advice from Goodwin Procter LLP and financial advice from Raymond James, J.P. Morgan, and TD Cowen. Nordic Capital is being advised financially by William Blair and legally by Kirkland & Ellis.