Apollo Insurance Solutions, a leading Canadian digital insurance provider, has closed a Series B financing round led by Definity Financial Corporation.
Definity has strong digital insurance experience expertise through Sonnet, Canada’s first fully online personal insurance offering, and Vyne, Definity’s broker digital platform.
The strategic partnership includes a distribution relationship between Definity Financial’s affiliate Definity Insurance Company and APOLLO, and an agreement by Definity Financial to complete an initial minority equity investment.
APOLLO launched in 2019, and announced the close of a Series A financing round of CAD13.5 million in January 2021, led by Gravitas Securities.
