BDA advises Innoveo on sale to Tinubu
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BDA advises Innoveo on sale to Tinubu
7 May 2025
BDA Partners is pleased to announce that its client, Innoveo, has been acquired by Tinubu, a leading provider of enterprise software solutions for the global specialty insurance industry. The deal is backed by Long Arc Capital, a New York-headquartered investment firm. Innoveo is a no-code enterprise software company, recognized for its flexible platform and deep insurance expertise.
BDA acted as exclusive financial advisor to Innoveo and its shareholders on the transaction.
This acquisition will strengthen Tinubu’s ability to serve a broader range of specialty lines—including Surety, Trade Credit, Accident & Health, Marine, Aviation, Transport, Cybersecurity, and Energy—while also providing the agility to address the unique needs of insurers across the specialty market. By combining Tinubu’s flexible end-to-end platforms with Innoveo’s no-code capabilities, the enlarged group will deliver unmatched flexibility, speed, and innovation to specialty insurance providers worldwide.
Vinod Kachroo, CEO of Innoveo, said: “Joining Tinubu allows us to accelerate our mission of helping specialty line insurers grow and transform their operations. Our flexible, highly configurable enterprise solutions have already helped many leading insurers innovate quickly, with confidence of success, cost-effectively. As part of Tinubu, we’ll gain access to broader capabilities, a global client base, and deep expertise — creating powerful synergies that will unlock new value for both existing and future customers. The BDA team played a pivotal role in managing a multi-geography, complex transaction process. Manoj, Jyotin, Shubham and Sian demonstrated professionalism and InsurTech expertise. Their tireless efforts enabled Innoveo to find the right strategic partner for our next phase of growth.”
Manoj Balwani, Partner & Head of Technology US & India, said: “We’re proud to have advised Innoveo and its shareholders on this strategic InsurTech transaction. Innoveo’s no-code platform and deep specialty insurance focus made it a strong fit for Tinubu. We extend our best wishes to the Innoveo and Tinubu teams for their next phase of growth. As software adoption accelerates in the US market, we anticipate significant consolidation activity to be driven by these market leaders. BDA, along with our strategic investor William Blair, has strong credentials in this space to advise leading software and InsurTech companies in their journey of value creation.”
Jyotin Gagrani, Managing Director, BDA Partners, said: “Innoveo has built a unique platform tailored to the needs of the specialty insurance industry. This transaction showcases our expertise in advising clients in Software and SaaS businesses, as well as our reach into the global strategic and private equity investors. Congratulations to the Innoveo and Tinubu teams as they embark on this highly synergistic journey. It’s been a privilege to work together with both teams, to help bring together two complementary businesses, marking BDA’s 12th transaction in the US–India corridor.”
BDA deal team
Manoj Balwani
Partner, Head of Technology US & India, New York and Mumbai
mbalwani@bdapartners.com
Jyotin Gagrani
Managing Director, Mumbai
jgagrani@bdapartners.com
Shubham Verma
Vice President, Mumbai
sverma@bdapartners.com
Sian Crowder
Associate, New York
About Innoveo
Innoveo is a leader in providing core Insurance solutions like underwriting workbench, raters, policy administration & claims. The solutions are powered by Innoveo’s no-code cloud platform, enabling insurers to streamline operations, simplify & automate processes, enhance decision-making, and create user-friendly experience for all stakeholders with flexible, easy-to-configure solutions. https://go.bdapartners.com/e/873401/2025-05-07/bnt1r2/1006146781/h/aedV38f-VGlaeTevt8nKmhn1XuN7bME_zA3obO6Hk7w
About Tinubu
Tinubu is the leading provider of enterprise software solutions for the global specialty insurance industry, driving the industry's digital transformation and growth with best-in-class cloud technology and deep domain expertise. Tinubu provides end-to-end solutions across the entire insurance value chain, including policy or bond administration, underwriting, distribution, and claims. Tinubu brings 25+ years of sector experience and assets across carriers and distribution. https://go.bdapartners.com/e/873401/2025-05-07/bnt1r5/1006146781/h/aedV38f-VGlaeTevt8nKmhn1XuN7bME_zA3obO6Hk7w
About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with 30 years' experience advising on cross-border M&A, capital raising and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services, Sustainability and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.
BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese Government-owned bank with US$150bn of assets.
US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc, a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorized and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com
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US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors.
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