Tower Insurance Brokers has secured a multi-million pound growth funding facility from TDC to support its expansion and target acquisitions.
With new funding from TDC’s impact fund, Tower plans to strengthen its position, look at acquisitions and bring in additional senior talent.
Tim Forshaw, CEO at Tower Insurance Brokers, said: “From day one, our mission has been to challenge outdated underwriting assumptions and give niche industries the insurance solutions they deserve.
“In just eight years, we’ve done exactly that, establishing ourselves in what is a crowded market while achieving exponential growth.
“Having done this largely by ourselves until now, we recognised the need to bring in additional investment to continue delivering on this growth.”
Forshaw added: “When we met TDC, it was clear we were culturally aligned. They understood our business immediately and saw the potential investment could unlock for us.
“Now, with the investment in place, we’re entering a new stage for the business as we go on the acquisition trail and look to bring in senior talent.
“If the last few years are anything to go by, the next few promise to be even better.”
Jon Petty, investment director at TDC, said: “Tower is an exceptional example of a founder-led business that has identified a market gap and built a high-growth company around deep specialist knowledge.
“We are excited about partnering with Tim and the team in the next phase of their growth.
“This is exactly what our Impact Fund was designed for, supporting high growth Northern businesses to scale, creating jobs and boost the regional economy.”
