The funding will help Gracie Point to expand its presence across its markets in North America and Asia

Gracie Point

Image: Gracie Point secures $50m funding. (Credit: Pixabay/Nattanan Kanchanaprat)

Gracie Point, a New York-based finance provider for life insurance planning needs, has secured $50m in capital funding led by Hudson Structured Capital Management to fund its business expansion.

The capital raise will help Gracie Point to expand its business operations across the US and Asian markets.

The funding, which is its third capital raise, will also help the company to launch its operations in Canada and to further enhance its global funding capabilities.

Gracie Point chairman Harish Raghavan said: “Gracie Point is uniquely qualified to provide flexible and innovative financing solutions in the global premium finance market.  This latest round of capital allows us to continue our rapid growth and expand our platform in the United States, Canada and Asia.”

Gracie Point serves high net worth and ultra-high net worth clients

Gracie Point takes consultative approach, combining insurance, financing and loan servicing expertise to advisory marketplace. The firm works with agents and brokers to serve affluent, high net worth and ultra-high net worth clients.

Based on its market knowledge, it claims to be able to quickly determine an optimal financing structure. With premium finance as its only business, the firm is said to work more effectively with insurance agents without any concern for competition with the agents’ client relationships.

The firm has offices across New York, Toronto and Hong Kong to support its clients’ across North America and Asia.

HSCM Bermuda managing partner Michael Millette said: “The opportunity to build a global premium finance company in the life insurance space that is connected to the capital markets is one that we think will fundamentally shift how life insurance is bought and sold, and we have enjoyed our many year partnership with Gracie Point who we view as the market leader in the space. We are excited about this next phase of growth for the company.”