Connie Health, a technology-enabled Medicare insurance brokerage, secured a $35 million asset-backed revolving credit facility from Rivonia Road Capital, a global private capital manager focused on specialty lending. The facility can be expanded up to $100 million to support Connie’s ongoing national expansion.
Backed by Connie’s Medicare book of business, the facility will fund both organic policy origination and M&A, a central pillar of the company’s expansion strategy.
“Our model is built on long-term relationships between members and their local agents, and that shows in our retention,” Oded Eran, co-founder and CEO of Connie Health, said. “This facility gives us committed, scalable capital to expand our agent network organically and through acquisitions, ensuring our members continue receiving high-touch, personalized support on our platform.”
Brad Smiedt, co-founder and managing partner of Rivonia Road Capital, added, “Connie has built a differentiated platform that combines the trust of a local agent with the efficiency of modern technology. We were impressed by the management team’s deep industry experience and disciplined approach to both organic growth and acquisitions. This facility also extends Rivonia’s commitment to the insurance distribution market, and we look forward to supporting Connie as it scales.”
