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GSC looks beyond the traditional by investing in fintech fund

December 3, 2019

Green Shield Canada looks beyond the traditional by investing in fintech fund

 

TORONTO, ONTARIO (DECEMBER 3, 2019): With a reputation as a health benefits industry innovator, Green Shield Canada (GSC) continues to seek different ways to identify new solutions that will address emerging client needs. As part of this, GSC will be investing in the global fintech fund, Portag3 Ventures II LP, and collaborating with their broader ecosystem as GSC strives to bring innovative health and insurance solutions to their clients and also enhance the overall customer experience.

“Our mission is to deliver meaningful solutions to improve health and well-being, and we believe working with the Portag3 team provides an opportunity to accelerate a number of our efforts in this regard,” explains Zahid Salman, GSC’s president and CEO. “We were attracted by their solid track record of finding innovative, early-stage ventures that are well-positioned to scale and deliver significant value to the customers they serve.”

 

As Paul Desmarais III, co-founder and executive chairman of Portag3 Ventures explains, “Our vision is to create an environment steeped in fintech innovation that will power the next generation of global financial, insurance and health services companies. Using technology to improve the customer experience is central to innovation.”

 

“The entrepreneurs we partner with are building their businesses around trying to solve a particular customer problem. The focus on improving the lives and experiences of customers drives our investing decisions,” said Adam Felesky, CEO of Portag3 Ventures.

 

Mr. Salman added, “Customer expectations are quickly evolving and technology can enable the new business and delivery models needed to meet them. In combination with our internal innovation efforts and our direct investments in relevant startups, also having access to the companies Portag3 evaluates, develops and invests in will allow us to nimbly bring best-in-class solutions to our clients.”

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For more information:

GSC Media Department 1.800.268.6613 ext. 3409

media@greenshield.ca

Click Here to Listen to the GSC PODCAST Episode on innovation in the financial/insurance industry

 Click Here to Read GSC’s INSIDE STORY: The Insurance Industry… From Jurassic to Futuristic

Click Here to Read GSC’s INSIDE STORY: Artificial intelligence isn’t just a new buzzword... it’s a game changer, especially in managing claims

About Green Shield Canada

GSC is Canada’s fourth-largest health and dental benefits provider, and is uniquely structured as a social enterprise with the purpose of making it easier for people to live their healthiest lives. From coast-to- coast, our service delivery includes drug, dental, extended health care, vision, hospital, and travel benefits for groups and individuals, as well as administration and benefits management services. Supported by outcomes-based sustainability strategies, advanced technology, and exceptional customer service, GSC creates innovative programs for nearly four million plan participants nationwide. greenshield.ca 

About Portag3 Ventures

Portag3 Ventures is an early-stage investor supporting the world's most innovative financial technology companies. Its team has deep entrepreneurial and industry experience and provides its founders with full access to the firm’s partners, in-house experts, and broader global ecosystem. Portag3 — alongside Diagram Ventures, a fintech venture builder — is a part of the venture capital strategy of Sagard Holdings, a multi-strategy alternative investment platform. Portag3 has a presence in Toronto, Montreal, New York, Europe and Southeast Asia. To learn more, visit p3vc.com.