• Acrisure raises $2.1 billion in a convertible preferred stock offering, boosting its valuation to $32 billion.
  • Bain Capital leads the round, with participation from Apollo Funds, Fidelity, and others.
  • Funds will refinance existing preferred stock, fuel M&A, and accelerate fintech platform development.

A Major Capital Infusion for Acrisure

Acrisure has locked in a definitive agreement for a $2.1 billion capital raise through convertible senior preferred stock, led by Bain Capital and supported by a consortium of heavyweight investors including Apollo Funds, Fidelity Management & Research Company, and Gallatin Point Capital. The deal, announced May 21, 2025, marks a nearly 40% valuation jump from its last institutional raise three years ago, now valuing the fintech-enabled financial services firm at $32 billion.

People familiar with the matter say the capital will primarily refinance existing non-convertible preferred stock while supporting strategic acquisitions and technology development. BDT & MSD Partners remains Acrisure’s largest minority shareholder, signaling continued confidence in the company’s trajectory.

From Insurance Broker to Fintech Powerhouse

What began as a regional insurance brokerage in 2005 has evolved into a diversified financial services platform through roughly 900 acquisitions. Today, Acrisure serves over 5% of U.S. businesses with offerings spanning cybersecurity, wealth management, and payment processing. The latest funding round follows a $725 million Series B-2 in May 2022, underscoring aggressive growth ambitions.

“This isn’t just about scaling—it’s about integrating our acquisitions and leveraging technology to serve SMEs globally,” said one executive, speaking on condition of anonymity. Recent leadership hires, including ex-Intercontinental Exchange COO Mark Wassersug as CTO, highlight the tech-driven pivot.

What’s Next?

With fresh capital, Acrisure aims to consolidate its sprawling platform while eyeing targeted M&A. The convertible preferred stock structure offers flexibility, though some analysts question whether the company can maintain its acquisition pace without integration challenges. For now, investors appear bullish—especially as private markets show renewed appetite for hybrid financial-tech plays.