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Connection Capital exits insurtech Tempcover through sale to RVU

Connection Capital, a specialist private client alternative investment business, has exchanged on the sale of multiple award-winning UK online temporary insurance platform Tempcover to RVU, owner of Uswitch, Confused.com and Money.co.uk.

The sale (subject to Financial Conduct Authority regulatory clearance) will deliver a highly-profitable gross return of >5x money to Connection Capital clients.

Tempcover was established in 2006 and private investor clients of Connection Capital invested in the Company’s MBO in December 2017 with a further follow-on investment made in May 2019. 

Over the period of Connection Capital clients’ ownership, EBITDA has grown substantially and headcount has more than doubled to 51 employees.

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