Insurtech Company for sale, $32M TTM Revenue, $6.0M TTM EBITDA

An Exceptional Insurtech firm, with $32 million in revenue and $6.0 million in EBITDA, has rapidly ascended to the #2 position within its industry. This remarkable achievement has been fueled by the company’s continuous growth since its establishment in 2017, a testament to its highly competitive services and software that excel both in terms of quality and pricing. Right from the outset, the company introduced its own cutting-edge Insurtech software and service platform.

The company has a customer base of more than 6,400 customers, with an additional 1,135 customers acquired in 2023. These customers are recurring customers, and no single customer constitutes more than 2% of the total annual sales. Notably, all customers are either B2B or B2C customers; there are no retail customers.

Backed by a well-built infrastructure, well-defined procedures, and a seasoned team of 15 industry professionals, all under the guidance of the founder, the company has successfully cultivated a diverse active customer base and continuously adds to that base.

The founder will continue to be involved during a post-sale transition phase and maintain an advisory position through a consulting arrangement.

Summary:

• $28 million revenue 2022
• $32 million revenue TTM 08/15/2023
• $3.9 million EBITDA 2022
• $6.0 million EBITDA TTM 08/15/2023
• Over 6,400 accounts, no single customer over 2% of sales

Services:

• Proprietary insurance and shipping platform
• Platform supports invoicing, shipping labels, returns, and payments
• Customers can set up Vendor shipping on their account
• NOT a general shipping solution – this is a highly specialized service providing insurance for high-value goods.

Staff:

• 15 employees (including owner-founder)
• CFO
• Operations Manager (responsible for day-to-day operations)
• Director of Operations
• Business Development Manager
• 3 Sales Reps
• 5 Customer Service Reps
• Software Development is outsourced

Transition:

The company has a Business Development Manager, a Director of Operations, and a sales, and customer service team of 8, and is in the process of hiring a COO to lead overall operations and sales.  The founder’s role is general management.

The owner is retiring after over 20 years in the industry and will stay on for a transition period and is willing to remain involved in an advisory (non-operational) role.