OnPoint Warranty Solutions, LLC (“OnPoint”), a rapidly growing insuretech, mobile solutions and warranty services company, announced that it has completed a strategic transaction with a private equity vehicle managed by Waterfall Asset Management, LLC (“Waterfall”) and Atalaya Capital Management (“Atalaya”). The investment from Waterfall and Atalaya supports the acquisition of Guardian Protection Products, Inc. (“Guardian”), and provides additional growth capital for OnPoint to further accelerate mobile and warranty product innovation, and to further enhance its’ industry-leading, proprietary insurance technology platform: Service Avenger.
The acquisition of Guardian, a long-standing warranty administrator for premier furniture retailers, provides OnPoint with entrenched capabilities in the broader retailer marketplace. OnPoint will also further enhance Service Avenger by integrating certain proprietary warranty administration technology developed by Guardian specifically for the retail sector. The existing management team at Guardian, led by Jed Rovin, will remain with the company under OnPoint’s ownership.
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“Since 2018, we have invested in our team, operational processes and in Service Avenger, our insuretech platform,” said OnPoint CEO, Chris Smith. “Continuous product innovation, combined with our operational expertise and the API-forward design of Service Avenger, enables OnPoint to offer OEMs, retailers, resellers, MVNOs and carriers the ability to seamlessly offer, sell and administer mobile solutions and warranty services on a plethora of consumer and commercial products and home systems. We are proud of the growth in the business and the customer relationships we have earned to date, and we are thrilled to partner with Waterfall and Atalaya, who share our vision of providing innovative technology and first-class warranty services to our customers and their consumers and homeowners.”
“This investment and the Guardian acquisition will support our ongoing investment in people, products, and technology such that OnPoint can support its customers’ continued growth and customer warranty experience initiatives,” said Rob Christian, President and CRO of OnPoint. “With the addition of Guardian, its’ management team, and its’ retail acumen, we are best equipped to serve retailers in North America and beyond. Guardian’s deep relationships in US-based retail organizations and the proprietary, retail-oriented administration technology, enables OnPoint to catapult the development of Service Avenger, particularly for the global eCommerce segment of our business.”
SOURCE: PRWeb