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Tinubu® Square announces acquisition of U.S. company eSURETY®
Paris, March 9th, 2020 – Tinubu Square, the market leader for enterprise software solutions to Credit and Surety Insurers, announces its first corporate acquisition in the U.S., one that fully integrates both companies’ expertise in the Credit Insurance & Surety sector.
* This purchase strategically advances Tinubu Square’s competitive advantage in providing digitalization and automation services to Credit Insurance and Surety clients globally.*
Jérôme Pezé, Tinubu Square Group, founder and CEO, declared: “By combining expertise and resources with eSURETY, Tinubu Square Group provides its end-to-end solutions to 30 of the top 60 credit and surety underwriters. This is a major step toward continuing our goal as the leading industry standard of excellence. Indeed, our clients are the source of innovation and permanent improvements and contribute to our technology roadmap and functional enhancement. Dan Buckles and his eSURETY team share our values of delivery excellence, reliability, and customer-centricity.”
“Six years ago, we launched Tinubu Square Americas”, said Olivier Placca, Tinubu Square Group co-founder and Deputy CEO. “Since then, we acquired as clients several major U.S. and Canadian Credit Insurers. Based on this success and experience, with the recent 15 million euros cash equity increase, Tinubu Square moved on this acquisition. For 20 years, we have shared with the eSURETY team the same passion for creating the best-in-class SaaS solutions for specialty lines insurers.”
“For 21 years, eSURETY has been the award-winning leader in providing powerful cloud-based surety solutions, consistently recognized as the best-of-breed software solution for automated underwriting, account risk analysis, bond lifecycle management, and surety analytics at an enterprise-level”, said Daniel T. Buckles, former CEO of eSURETY®. “Tinubu Square is the global leader in designing, producing, and servicing the largest providers of credit insurance and surety. The acquisition of the eSURETY® solution, staff, and brand brings a great deal of highly complementary capabilities to both firms’ existing and future customers. Mr. Buckles added: “We are united by a common culture based on a passion for innovating and driving the customer experience."
Offering Surety Solutions Worldwide
Tinubu Square’s one-hundred and seventy employees worldwide and twenty years of innovation makes it a strong leader in the Credit and Surety Insurance industry. By adding the U.S. team (Casselberry, Florida), they will lead the way in Surety Insurance software solutions globally, with a focus on expanding business in the U.S. and Canada.
Strategic Partners and Commitment to Clients
Tinubu Square was attracted to eSURETY’s technological solutions, which resulted from extensive R&D over the last five years and long-term demonstrated innovation and expertise in the Surety software industry within the U.S. With Tinubu Square’s international expertise, and digital transformation management capabilities, that is proven among major insurers worldwide, they are positioned to provide end-to-end enterprise solutions in Short and Medium-Term Trade Credit, Political Risk, and Surety, that involve multi-currency, multi-country, and multi-business units.
Tinubu Square and eSURETY have each built long-term partnerships with their clients and will continue to provide a reliable and secure commitment to existing relationships.
Together they will be able to bring enhanced services and strengths to their existing customer relationships while being able to scale faster and more securely in the rapidly growing global demand for surety products. Large carriers, as well as start-ups, will find the products, services, and extensive business experience for them to achieve their most ambitious goals.
Committed to pursuing the development of eSURETY and Tinubu Square Solutions, Dan Buckles, former CEO of eSURETY, was appointed Deputy CEO of Tinubu Square Americas and President of Tinubu Square Surety Americas.
Integrating Technologies and Adding Opportunities in Innovation
With 20% of its revenue invested in R&D, Tinubu Square Group will answer the expectation of credit insurance and surety insurers for leading and consistently improved technology solutions. In 2019, Tinubu Square received recognition from Corda for its commitment to Surety developments and its dedication to blockchain technology.
Founded in 1998, eSURETY® is a world-class, cloud-based specialty software provider, enabling carriers, brokers, and MGAs to securely apply, quote, bond, issue, and support every form of surety as well as offering a powerful direct-to-the-consumer experience on any device from any browser, anywhere in the world. This powerful cloud-solution can be fully white-labeled or integrated with customers’ branding and messaging.
About Tinubu® Square — @TinubuGroup
Tinubu® Square is the industry-leading SaaS platform vendor, enabling Credit Insurance & Surety digital transformation. For 20 years, Tinubu Square has provided Credit & Surety insurers across the globe with software and services allowing them to offer best-in-class customer experience, as well as significantly reduce their exposure to risk and their financial, operational and technical costs. Tinubu Square has an international footprint with customers in over 20 countries, including 30 of the top 60 worldwide Credit & Surety underwriters.
The law firm of Pepper Hamilton, LLP represented eSURETY and the law firm Jones Day® represented Tinubu Square in the legal transaction completed on February 20, 2020.
Tinubu® Square: Lotta Bonde
Phone: +33 1 5595 85 85
eSURETY®: Daniel Buckles
Phone: +1 904 395 1616