Tradie search platform hipages Group has acquired a majority stake in Viz Insurance from Insurtech Gateway Australia for $1.4 million.

Viz offers specialised cover across more than 85 trade occupations, operating as an agent under binding authority from Ivory Insurance.

“The acquisition of 51% of the issued capital in Viz is the latest step in hipages’ platform strategy to expand into strategic adjacencies,” the Australian-listed buyer said.

“This strategy significantly increases the group’s [total addressable market] and is expected to drive enhanced customer retention and accelerated revenue growth.

“It also provides optionality to offer insurance products to homeowner customers in the future.”

Ivory Insurance has welcomed the investment in Viz.

“As specialists in SME casualty, Ivory sees this partnership as a natural fit and is excited to support Viz within the hipages family as it expands its reach and connects with more customers, delivering smarter protection solutions for small businesses,” CEO David Hosking told insuranceNEWS.com.au.

hipages Group CEO Roby Sharon-Zipser says the investment is “the next exciting step in our platform strategy. Insurance is a non-discretionary product that every trade business needs to operate.

“The Viz team has developed an innovative digital-first platform targeted at tradies that is a perfect fit for hipages.”

Viz CEO Simon O’Dell says the business looks forward to working with hipages.

“The Viz platform has been gaining strong traction with Australian tradies, who are attracted to our specialised products and super-fast service,” he said.

“In hipages, we have found an ideal strategic partner with a similar entrepreneurial culture and access to over 35,000 trade business customers.”

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