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SSQ Insurance has invested in a fintech fund to better support new and upcoming technologies that could benefit it business.
The insurer has invested in Portag3 Ventures II LP (Fund II), the second fintech fund launched by Portag3 Ventures. A release said that Portag3’s advantage is “matching emerging talent and capital to create and support the ambitions of compelling fintech entrepreneurs.”
Fund II will help identify “promising and innovative financial technology businesses in sectors as varied as personal finance, investment management, savings, life insurance, general insurance and health insurance,” SSQ said. By investing in Fund II, the insurer gains more opportunities to invest directly in technology associated with its products and services.
“Portag3 Ventures is providing SSQ Insurance with the unique opportunity to position itself to meet the challenges inherent in digital advances and the rapidly changing needs of consumers,” SSQ Insurance CEO Jean-François Chalifoux said in a statement.
“We are proud to participate in this fund, which will position us to keep abreast of new business innovation opportunities and to observe new technology firsthand and how it may benefit our clients.”
