Slide Insurance secures $175m for hurricane readiness and expansion.

July 5, 2024
1 min read

TLDR:

  • Slide Insurance, a homeowners InsurTech company, secured a $175m senior credit facility led by Regions Bank.
  • The funds will be used to boost hurricane preparedness and support growth initiatives.

Slide Insurance raises $175m to boost hurricane preparedness and growth

Slide Insurance, an InsurTech company specializing in homeowners insurance, has secured a $175m senior credit facility. This funding, led by Regions Bank, will enable the company to prepare for the 2024 Atlantic hurricane season and support its growth initiatives.

The financial boost from the credit facility follows Slide’s $100m Series A round in 2021, further solidifying its presence in the industry. In recent months, Slide has focused on enhancing its financial resilience, completing a $1.86bn reinsurance program and finalizing pricing for a $210m catastrophe bond.

Bruce Lucas, Founder and CEO of Slide Insurance, emphasized the significance of this milestone for the company, highlighting its financial strength and commitment to affordable solutions for policyholders. The new investment will provide additional reserve capital to continue Slide’s growth trajectory.

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