iA Financial Group

Industrial Alliance Insurance and Financial Services, founded in 1892, is a prominent Canadian insurance company that provides a wide array of financial products and services. These offerings include life and health insurance, savings and retirement plans, mutual and segregated funds, auto and home insurance, as well as mortgages and car loans. The company manages over $126 billion in assets and operates across various segments, including Insurance Canada, Individual Wealth Management, Investment, Corporate, and U.S. Operations. With a focus on conservative investment strategies and robust risk management, Industrial Alliance maintains financial stability, allowing it to adapt to changing economic conditions while delivering value to its clients in Canada and the United States.

Catherine Milum

President and CEO

18 past transactions

Global Warranty

Acquisition in 2025
Global Warranty offers vehicle warranty protection plans, claim management and extended warranty services.

Clutch

Corporate Round in 2024
Clutch is a technology company focused on transforming the car buying process by offering a fully online platform for purchasing high-quality certified vehicles. Customers can browse a diverse inventory of second-hand cars at competitive prices on Clutch's website, where they can complete their purchases without the need for showrooms or commissioned salespeople. The platform simplifies the car buying experience by providing easier financing options and delivering vehicles directly to customers' homes. Clutch aims to enhance customer satisfaction by delivering an enjoyable and convenient car buying experience while also making a positive impact in the communities it serves.

AutoCanada

Post in 2023
AutoCanada is a prominent multi-location automobile dealership group in Canada, operating 53 franchised dealerships with a total of 60 franchises across eight provinces. The company employs over 3,700 individuals and specializes in the sale of both new and used vehicles. AutoCanada offers a diverse range of brands, including Chrysler, Dodge, Jeep, Ram, Chevrolet, GMC, Buick, Cadillac, Infiniti, Nissan, Hyundai, Subaru, Mitsubishi, Audi, Volkswagen, BMW, and MINI. In addition to vehicle sales, the company provides spare parts, maintenance services, and customer financing. The majority of its revenue is generated from the sale of used vehicles, with a significant portion of its operations and revenue derived from the Canadian market.

Vericity

Acquisition in 2023
Vericity, Inc. specializes in providing life insurance protection products for the middle American market through its subsidiaries. The company operates primarily in two segments: Agency and Insurance. The Agency segment sells life insurance products from various unaffiliated insurance companies using a call center distribution platform, independent agents, and other marketing organizations. It also engages in insurance lead sales via its eCoverage web presence. The Insurance segment offers term life, accidental death, and final expense products, distributing these offerings through independent producers, including direct distributors and regional and national independent producer groups. Vericity distinguishes itself with innovative product designs and sales processes, focusing on rapidly issued products that do not require medical underwriting at the time of sale. The company is headquartered in Chicago, Illinois.

Clanmil Housing

Debt Financing in 2022
Clanmil Housing is a housing association. They provide report and guidelines antisocial behavior through their online website. Their customer support through email and phone contact.

Policygenius

Series E in 2022
Policygenius Inc. is an online insurance brokerage that specializes in providing a wide range of insurance products including life, health, long-term disability, pet, and renters’ insurance. Founded in 2014 and headquartered in New York, the company combines advanced technology with the expertise of licensed agents to assist individuals in finding the appropriate coverage for their needs. The platform allows users to review and compare quotes, making it easier to select the right insurance policy at competitive prices. Policygenius has served millions of customers and has placed over $160 billion in insurance coverage, establishing itself as a significant resource in the insurance marketplace.

Surex

Acquisition in 2021
Surex Direct is an online insurance brokerage based in Canada, specializing in auto, home, condo/tenant, and business insurance. The company allows customers to quote, compare, and purchase insurance online, providing access to instant proof of insurance. Surex Direct partners with over ten insurance providers to offer a variety of coverage options. The company operates in several provinces, including British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Prince Edward Island, Yukon, and the Northwest Territories. By focusing on a user-friendly online platform, Surex Direct facilitates price comparison to help clients find the insurance solutions that best meet their needs.

Borrowell

Series C in 2021
Borrowell Inc. is a financial technology company based in Toronto, Canada, founded in 2014. It specializes in offering a range of financial products and services, including personal loans, credit cards, and free credit scores. Borrowell operates an online marketplace-lending platform that provides Canadians with access to borrowing options and unsecured consumer loans. The company is dedicated to enhancing financial prosperity for its users by offering tools for credit education, personalized credit coaching, and AI-driven recommendations for financial products. By delivering resources such as credit monitoring and tailored options from marketplace partners, Borrowell aims to help customers secure low-interest loans and improve their overall financial well-being.

IAS

Acquisition in 2020
IAS has been leading the aftermarket industry in developing superior aftermarket programs and F&I software solutions since 1984. Headquartered in Austin, Texas, IAS offers the highest quality F&I products in the industry and backs them up with the finest quality administration and claims that exceed industry standards. In addition to exceptional product development and unparalleled customer service, IAS also offers world-class technology solutions that create a sensible and profitable turn-key approach to F&I.

PayBright

Venture Round in 2018
PayBright is a Toronto-based company that offers a point-of-sale consumer payments and lending platform, specializing in e-commerce and in-store transactions. Founded in 2009, PayBright aims to enhance the everyday commerce experience for Canadians by providing flexible and affordable payment options. The company's proprietary technology allows consumers to divide the cost of their purchases into manageable biweekly or monthly installments. This service is applicable across various sectors, including fashion, electronics, furniture, sports equipment, and education, enabling customers to make purchases with greater financial ease. By partnering with merchants, PayBright facilitates a seamless payment experience that caters to the needs of modern consumers.

Groupe Ppp Ltee

Acquisition in 2016
Groupe PPP Ltée, founded in 1980 and based in Quebec, Canada, specializes in designing and offering warranty and insurance products tailored for various vehicle types, including automobiles and recreational vehicles. The company provides a comprehensive range of services, such as extended warranty, replacement insurance, and life/disability coverage, all aimed at enhancing customer loyalty and optimizing profitability for automotive industry partners. With a reputation for reliability, Groupe PPP has established over 800 points of sale across Quebec, solidifying its position as a leading extended warranty provider in the region. The company has continually adapted its offerings to meet the evolving demands of the automotive market, leveraging its expertise to develop additional after-sale marketing products. Furthermore, Groupe PPP has formed strategic partnerships with major industry players, including a long-standing collaboration with CAA-Quebec and a partnership with La Capitale, Financial Group, enhancing its service capabilities and market reach.

Health Smart Financial Services

Private Equity Round in 2016
Health Smart Financial Services Inc. operates a real-time financing platform designed to assist medical professionals in providing flexible payment options for their clients. Founded in 2009 and based in Toronto, Canada, the company primarily focuses on the healthcare sector, enabling healthcare providers to offer affordable monthly payment plans for various services, including dentistry, fertility treatments, audiology, mobility devices, veterinary services, and cosmetic procedures. The platform allows customers to secure financing on-location or online, facilitating approval for payments through desktop, tablet, or smartphone interfaces. In addition to healthcare, Health Smart also caters to retail, travel, sporting goods, electronics, and home goods. Since its inception, the company has approved over $170 million in consumer credit, helping merchants enhance customer access to services while driving sales growth. As of January 2021, Health Smart operates as a subsidiary of Affirm Canada Holdings Ltd.

iA Group Retirement Services

Acquisition in 2016
iA Group Retirement Services Inc. offers recordkeeping and administrative services. BMO Financial Group serves more than 12 million personal, commercial, corporate and institutional customers in North America and internationally.

Groupe Financier Moreau

Acquisition in 2016
Groupe Financier Moreau Inc. is a financial services firm based in Laval, Canada, specializing in life insurance and travel insurance. The company also provides a range of financial services, including tax and estate planning advice, to meet the diverse needs of its clients. Additionally, Groupe Financier Moreau offers training services for financial advisors, contributing to the professional development of those in the industry. As of March 2016, it operates as a subsidiary of National Financial Insurance Agency Inc.

BBA Financial Group

Acquisition in 2015
BBA Financial Group is a provider and distributor of personal insurance products, specializing in various types of insurance coverage. The company offers life and health insurance, as well as specialized plans including emergency medical travel insurance, sports travel insurance, accident insurance, student travel insurance, and risk travel insurance. BBA Financial Group distributes these products through a network of representatives and financial services companies, ensuring accessibility to a wide range of clients seeking personal insurance solutions.

CTL Corp.

Acquisition in 2015
CTL was established to serve Canadian consumers needing to purchase a vehicle, yet unable to obtain traditional bank financing. CTL has evolved from modest beginnings – an idea and one vehicle loan in 2010 into Canada’s largest privately held vehicle finance company, serving the non-traditional consumer market. Extremely disciplined in its approach to underwriting and collecting, CTL is entering its sixth year of operations with a solid balance sheet. CTL operates a five tier finance program serving the near-prime to sub-prime credit markets through a growing network of independent and franchise automotive dealers across Canada.

FIN-XO Securities

Acquisition in 2015
Fin-XO Securities Inc., based in Ottawa, Canada, specializes in providing financial services. The company offers a range of services including investment advisory and asset management, catering to individuals, institutions, corporations, and government entities. As of October 1, 2015, it operates as a subsidiary of Industrial Alliance Securities Inc.

Leon Frazer & Associates

Acquisition in 2013
Leon Frazer & Associates is a privately owned investment management firm based in Toronto, Ontario, with additional offices in Vancouver and Calgary. Established in 1939, the firm specializes in managing investment portfolios for high net worth individuals, estates, trusts, and various institutions, including charitable foundations and pension plans. With a team of experienced investment professionals, Leon Frazer manages approximately $1.6 billion in assets, focusing on client-oriented equity portfolios, fixed income, and balanced mutual funds. The firm's investment strategy employs fundamental analysis and a bottom-up stock picking approach, utilizing both in-house and external research to construct its portfolios. Leon Frazer has earned a reputation as a leading authority in Canadian equity and dividend investing, and is a founding member of the Portfolio Management Association of Canada.
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