+Simple has restructured its capital with the entry of the global investment firm KKR. The founders remain heavily invested, while a certain number of existing financial shareholders retain a portion of their holding. The group simultaneously secured bond financing from Tikehau to finance its ambitious acquisition plan without diluting its shareholders.
+Simple is the first French Insurtech start-up to digitize and industrialize the entire insurance value chain for professionals. Its founding mission is to facilitate all insurance procedures for professionals by providing them with a one-stop shop, supported by its insurance partners. With 120 employees and 100,000 customers in France, Italy, and Germany, +Simple now covers 500 professions.
After completing two fundraisings in three years, this double transaction reflects investors’ expectations of strong profitability and confirms that +Simple has entered into a new stage in its development as well as its status as a natural platform for the consolidation of its sector in Europe. Its completion is scheduled for April, subject to customary regulatory conditions.
As part of this LBO, the +Simple founders and their team were advised by Scotto Partners with a team led by Adrien Badelon (partner), assisted by William Ducrocq-Ferré, Fiona Kalach and Tania Lozano as to corporate aspects, Jérôme Commerçon (partner), assisted by Julien Pardieu (Counsel) and Pierre-Henri Abadie for the tax-related aspects as well as Bertrand Thibaut (Counsel) and Alban Tourneux on employment law.
Other legal advisors:
KKR is advised by Gibson Dunn (London and Paris), Tikehau by McDermott, the shareholders/sellers by Hogan Lovells (Corporate) and Gide, and the Group by Hogan Lovells (Funding) as to bond documentation.