This is the first exit in the AVP Growth fund.
One Inc is quickly becoming one of the dominant players in insurance payments. Growing at an average rate of 77% year-over-year and processing over $10 billion in transactions for the 100+ customers using the company’s platform, One Inc has experienced rapid growth over the last few years. The One Inc Digital Payments Platform combines inbound and outbound payment capabilities with industry-specific reporting and reconciliation, along with a host of digital communication methods. The entire platform was developed to allow insurance operators to maintain a frictionless payments experience with policyholders, vendors, agents, and service providers. With seamless integration into existing legacy and modern core systems, the One Inc platform helps its customers increase retention and persistency while reducing costs, complexity, and the burdens of compliance and security.
AVP team partnered with One Inc in 2016 when we led a $20M Series B, and subsequently participated in the $15.5M funding round in 2017. One Inc was the first investment done by the AVP team on the Growth strategy.