ePayPolicy, a provider of digital payment solutions purpose-built for the insurance industry, has secured a strategic investment from private equity firm LLR Partners.
The investment will support product development, scale sales and customer support teams, and expand operations to meet rising demand across its network of more than 10,000 insurance organizations.
Founded to simplify and modernize AR/AP processes, ePayPolicy offers insurers, agencies, MGAs, and premium finance companies tools to automate their payment workflows.
CEO Mark Engels said the capital will help the company deliver more integrated solutions to improve speed, accuracy, and security in insurance payments.
Our mission is to increase the speed and efficiency of our customers’ AR/AP processes and make insurance payments fast, easy and secure
Mark Engels, CEO of ePayPolicy
“With this investment, we will continue to build the products our customers need to automate all of their payment-related workflows,” said Mark Engels.
For many insurance companies, payments are a pain. ePayPolicy’s founders experienced the frustration of inefficient insurance payments firsthand, and built ePay with the belief that getting paid should be the easiest thing you do.
LLR Partners, which has a two-decade track record of backing vertical software and payments firms, views the insurance sector’s digital transformation as a long-term growth opportunity.
Insurance is a $2T+ market undergoing systemic change. ePayPolicy is well-positioned as a category leader.
Connor Crump, Vice President at LLR
LLR joins Serent Capital, which first invested in ePayPolicy in 2019 and will remain an active partner.
The investment signals confidence in the company’s growth trajectory and its role in reshaping payment infrastructure across the insurance value chain.
Financial terms were not disclosed. Raymond James and Choate advised ePayPolicy; William Blair and Goodwin Procter advised LLR.
