DALLAS, Aug. 24, 2017 /PRNewswire/ -- PHP Agency Inc. ("PHP"), one of the fastest growing financial marketing organizations in the US, announced today that the company has closed a $10.0 million expansion financing round to accelerate growth and strategic expansion. The company was founded in 2009 to expand the availability of life insurance and annuities to the middle class and is licensed in 49 states. It has been profitable and fast growing since its inception, generating a trailing CAGR of nearly 50% and a current string of nine consecutive quarters of record revenue.
The round was led by Ambina Partners and Atalaya Capital Management, with participation from Brener International Group and retired boxer, successful promoter and entrepreneur Oscar De la Hoya.
Patrick Bet-David, Founder and CEO of PHP Agency Inc., said, "This round is more than a financial transaction. PHP has successfully secured new partners in Ambina Partners, Atalaya Capital Management, Brener International Group and Oscar De La Hoya that care about the clients and insurance agents in the Hispanic market segments PHP is serving. I am confident that this team will be instrumental in enabling PHP to build on the momentum that we have generated to date."
Greg Share, Ambina Partners' founder said, "After reviewing PHP's sustained growth, profitability and highly successful presence in the multi-cultural US middle class markets we came away impressed with PHP and the leadership and passion of Patrick Bet-David."
Sachin Sarnobat, Managing Director at Atalaya Capital Management said, "PHP's focus on a large and scalable market coupled with validation of the business by a growing set of insurance carrier relationships, makes this a compelling investment opportunity."
Gabriel Brener, CEO of Brener International Group, said, "PHP is bringing important financial products including life insurance and annuities to the middle class, particularly the Hispanic market which is a core tenant of our investment strategy. I look forward to being part of the Company's future success."
Oscar De la Hoya said, "PHP is dedicated to bringing life insurance and financial products to the Hispanic market. Life Insurance is an important product with a story that needs to be told and I feel PHP is standing in the gap left by traditional financial service companies. I am also pleased to be again joining Brener International Group and Gabriel Brener in an investment that has social significance."
The Company has differentiated and distinguished itself by recruiting multicultural agents in their 30's to the life insurance industry. This segment of the financial services industry has been dominated baby-boomers. As these 'boomers' retire in record numbers, the industry must find ways to attract a new generation of agents that reflect the cultural diversity of America's middle class. PHP has been successful where many legacy life insurance carriers have struggled; attracting a salesforce comprised of millennials, Gen-X and Gen-Y individuals who represent a diversity of cultures, with Hispanics representing the most significant group.
This generation of individuals are also 'digital natives' who grew up on technology rather than adapting to it as adults. They increasingly demand seamless digital systems and solutions that are tailored for mobile applications. PHP has invested in mobile Apps and end-to-end digital systems and processes that enable this generation to do business as life insurance agents using new technologies in a legacy industry.
Thomas Ellsworth, President and COO of PHP Agency commented, "The tremendous commitment from our partners enables us to make further investment in technologies and systems that drive expansion growth and operational efficiency that serves our clients and agents. The capabilities of this team also provide PHP the ability to consider future strategic initiatives that may be presented to it, including opportunistic acquisitions."
About PHP Agency
PHP Agency is a financial marketing organization company with a two-part vision: change the culture and diversity of the insurance industry and build the world's largest financial services marketing company in history. To realize this vision, PHP has partnered with some of the world's leading insurance carriers to offer clients personally suitable life insurance and annuity products and; provides a part-time or full-time career opportunity to those wishing to pursue a career as life insurance agents. The company's agents operate from their individually owned and operated offices located across the nation. The company is privately held and is headquartered in Dallas, TX.
About Ambina Partners
Ambina Partners is a privately held investment firm providing flexible capital solutions for growth oriented companies and for special situations. Ambina's mission is to deliver impressive long run returns while offering downside protection to investors. Ambina actively partners with industry leading executives and structures investments to fit the opportunity.
About Atalaya Capital Management
Atalaya is a privately held, SEC-registered, alternative investment advisory firm with over $2.5 billion in assets under management. Atalaya is a private credit and special opportunities alternative investment manager that invests across three asset classes – corporate, financial assets and real estate. Founded in 2006, Atalaya is headquartered in New York City.
About Gabriel Brener and Brener International Group
Gabriel Brener is currently the Chairman and CEO of the Brener International Group ("BIG") a diversified family-owned investment company seeking investment opportunities in both public and private companies. Current investments of BIG include the Houston Dynamo soccer team in partnership with Oscar de la Hoya; as well as extensive real estate holdings, and investments in operating companies, in Mexico and the US.
About Oscar De La Hoya and Golden Boy Promotions
Nicknamed "The Golden Boy," Oscar De La Hoya is a retired boxer best known for winning Olympic Gold in the Barcelona '92 Games and as a 10-time world champion in six different weight classes. Los Angeles-based Golden Boy Promotions was established in 2002 by De La Hoya, the first Hispanic to own a national boxing promotional company. Golden Boy Promotions is one of boxing's most active and respected promoters, presenting shows in packed venues around the United States on networks such as HBO, ESPN, SHOWTIME, FOX Sports 1 and FOX Deportes.
PHP Agency Inc.
5001 Spring Valley Road - Suite 1155E
Dallas, TX 75244
(469) 917-4600 X105
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SOURCE PHP Agency Inc.