2022

Year

Sell-Side

Transaction Type

Technology

Sector

The Floow

Client

Otonomo

Acquirer

The Floow | Otonomo



  • Cross-border transaction transforming connected insurance solutions

  • Strong strategic and cultural fit for both organisations

  • Showcase of finnCap Cavendish’s ability to provide its clients a dual-service offering across private growth capital and M&A to ensure the best outcome for shareholders

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised on the sale of The Floow, the UK-based SaaS data analytics platform and provider of connected insurance technology for major carriers globally. The Floow has been acquired by Otonomo, the mobility intelligence company, headquartered in Israel and listed on Nasdaq, for a consideration of up to $69 million. This is the latest in a number of recent cross-border transactions which finnCap Cavendish has advised on.

 

Over the last decade, The Floow has grown substantially, becoming a pioneer and trusted provider of smartphone-based telematics & data analytics solutions to motor insurers globally. Its data refinery platform enables world leading insurance carriers to introduce connectivity & personalization to their motor products & policies through a more precise understanding of risk based on driving behaviour or usage, whilst always aiming to improve road safety through driver coaching and timely, accurate roadside assistance.

 

The highly strategic combination of the two companies will integrate The Floow’s risk pricing & data analytics expertise with Otonomo’s mobility intelligence platform and move it closer to the connected car. Along with smartphone data ingestion, this approach will create the richer, more accurate data sets we expect to be increasingly required by insurance carriers at a time when the ownership of data collection swings to OEMs and the vehicle itself.

 

With this transaction Otonomo joins gains a team of insurance & data analytics experts that can drive their insurance offering to new levels, and includes a level of additional growth capital that will enable The Floow to continue on its growth trajectory.

The deal was led by Anthony Platt, partner at finnCap Cavendish, Jamie Blewitt, Director, and Elliott Jeans, Senior Associate.

Ben Volkow, CEO of Otonomo, commented:

“Together, we believe Otonomo and The Floow will create the opportunity for both OEMs and insurance companies to accelerate the utilization of their data, create new products, improve customer experiences and accelerate business transformation.”

Jamie Blewitt, DIrector at finnCap Cavendish, commented:

“The Floow has built an incredibly powerful analytics platform and suite of data products that have started to become critical to the way motor insurers look to personalize their motor policies, which is no mean feat in an industry not known for driving customer retention through innovation. They also had the foresight to pioneer smartphone-based data ingestion a decade ago, possibly ahead of its time, so it makes complete sense for them to partner with Otonomo, the pre-eminent mobility intelligence platform to stay at the cutting edge of data ingestion and analysis as the world’s vehicles become ever more connected. We’re therefore delighted to advise on this significant growth transaction for Aldo and the rest of the team that will see them really strengthen their offering to motor insurers & drivers globally.”

This deal underlines our ability to provide clients with a dual-service offering across private growth capital and M&A to ensure the best outcome for shareholders.”

 

Key Contacts

Anthony Platt

Partner

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Jamie Blewitt

Co-Head of Private Growth Capital

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Elliott Jeans

Senior Associate

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Tom Holland-Hibbert

Senior Analyst

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