Clearwater advises NEXT Forsikring on its sale to Basileia Holdings

Transaction

Next Forsikring sold to Basileia Holdings

Sell-side

Undisclosed

Role

Adviser to NEXT Forsikring on its sale to Basileia Holdings

Sector

Tech & Tech Services

Region

Denmark

Clearwater has advised NEXT Forsikring A/S (NEXT), a Danish digital insurance intermediary, on its sale to Basileia Holdings Limited (Basileia), an international player within insurance and insurance technology.

NEXT is a digital insurance intermediary servicing private customer within the Danish non-life insurance segment. The company was established in 2013 with the purpose of disrupting the Danish insurance market through a pure digital customer experience platform. The NEXT business model is based on five guiding principles; direct customer contact, consistent pricing, self-served instant price calculation, simplified payment and covering most of a household’s coverage needs. The company has quickly established a strong customer base generating an annual recurring revenue above €10m (DKK 80m) and is one of the leading companies in the Danish insurance market based on customer satisfaction.

Basileia Holdings Limited is an investment company focusing on starting, acquiring, or investing in insurance companies in Europe. With the acquisition of NEXT, Basileia aims to gain a stronger foothold in the European insurance market.

I am proud having been a part of the impressive growth journey that NEXT Forsikring has been through and I look forward to seeing this new chapter with Basileia unfold. Going through a sales process, it is of vital importance to have a professional adviser by your side, whom you can trust. Having previously worked with the Clearwater team, I knew the team to be very hands-on and accessible and felt confident in, once again, bringing them on as our adviser. From the very first management presentation up until the final signature, having Clearwater onboard sent a professional signal to potential investors - and helped raise the bid as Clearwater continuously managed to highlight the right selling points for the valuation. I would like to thank the team for their effort and cooperation and hereby, give them my strongest recommendations.
Pelle Martin Smidt, CEO and Co-founder, NEXT Forsikring