Zinnia, a life and annuity (L&A) insurance technology company, secured $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 is designed to accelerate Zinnia’s go-to-market strategy.
“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,” Michele Trogni, CEO of Zinnia, said. “Vista Credit Partners’ investment comes at the perfect time to accelerate our strategy.”
“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,” David Flannery, president at Vista Credit Partners, said. “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.”
Milbank served as Zinnia’s legal counsel alongside financial advisors RBC Capital Markets. Akin Gump served as legal advisor to Vista Credit Partners.
