APOLLO Launches FinShore, a Buy-Now-Pay-Later Subsidiary, with CAD $18.5 Million Funding

APOLLO, a Canadian digital insurance provider and leading innovator in the emerging embedded finance sector, is excited to announce the launch of FinShore, a wholly owned buy-now-pay-later subsidiary. FinShore offers a fully embedded monthly payment option to over 100,000 Canadians insured through APOLLO.

The financing for FinShore was secured by Fair Capital Partners Inc. (“FairCap”) as the lead arranger and agent, and Innovation Federal Credit Union (“IFCU”) as the lender. PricewaterhouseCoopers Corporate Finance Debt & Capital Advisory (“PwC CF”) acted as the exclusive financial advisor to APOLLO and FinShore.

FinShore will enable Canadians, especially renters, to utilize a buy-now-pay-later facility for their insurance premiums. It will also support APOLLO’s network of insurance broker partners who use the APOLLO platform to manage insurance transactions for their clients.

“Establishing FinShore is an innovative step forward for APOLLO, significantly easing the financial burden for Canadian renters,” said APOLLO CEO Jeff McCann. “In today’s economic climate, with the increasing prevalence