Home Funding Zinnia Secures $300 Mn Strategic Funding from Vista Credit Partners

[Funding News] Zinnia Secures $300 Mn Strategic Funding from Vista Credit Partners

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[Funding News] Zinnia Secures $300 Mn Strategic Funding from Vista Credit Partners
[Funding News] Zinnia Secures $300 Mn Strategic Funding from Vista Credit Partners

Zinnia, a leading life and annuity (L&A) insurance technology company, today announced $300 million in financing from Vista Credit Partners, a subsidiary of Vista Equity Partners and a strategic credit and financing partner focused on the enterprise software, data, and technology markets. The new financing will be used to accelerate Zinnia’s go-to-market strategy.

Zinnia plays a critical role in the L&A industry, delivering end-to-end solutions that power over 50% of the digital annuity volume in the U.S. Having grown substantially over the last 24 months, Zinnia’s solutions enable carriers to launch products rapidly, deploy them through multi-channel distribution, and deliver modern digital experiences.

Read also – [Funding News] Decagon Secures $100 Mn Series B Funding

“As longevity creates an ever-growing market opportunity for retirement products with consumers and advisors, we are proud that our widely deployed platforms are enabling that growth. Vista Credit Partners’ investment comes at the perfect time to accelerate our strategy,” said Michele Trogni, CEO of Zinnia. 

L&A products are experiencing unprecedented growth as the next generation looks for effective wealth management tools to build their retirement plans. Data from the Life Insurance Marketing and Research Association (LIMRA) shows that U.S. annuity sales have grown at a rate of more than 20% every year since 2021, with their latest report revealing record breaking sales in the first half of 2024.

“Zinnia’s products enable L&A distribution at scale in a standardized and automated way, and their mission-critical solutions give carriers faster market entry, distributors confidence in the products they recommend, and consumers increased trust in what they’re buying,” said David Flannery, President at Vista Credit Partners. “As a credit platform that specializes in providing scaled solutions to leading enterprise software businesses, we are pleased to help capitalize this exciting next phase of Zinnia’s growth alongside a terrific sponsor in Eldridge Industries.”

Leveraging its strategic acquisition of Ebix’s Life and Annuity assets earlier this year, Zinnia is now more deeply embedded with distribution partners across the industry, delivering seamless experiences for advisors, consumers, and carriers.

About Zinnia

Zinnia, an Eldridge Industries business, simplifies L&A insurance by delivering comprehensive technology solutions for the industry’s most critical needs. Zinnia enables carriers and distributors to build, sell, and service insurance, ultimately helping more people get the coverage they need and the service they deserve. Zinnia is also backed by funds managed by KKR and Vista Credit Partners, leading global investment firms. 

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