# Buckle Agency

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/buckle-agency

- Industry: Insurance
- Headquarters: Jersey City, US
- Website: www.buckleup.com
- Total disclosed funding: $91M
- Latest round: Series B (Sep 29, 2021)
- Investors on record: 5

## About

Buckle Agency, LLC offers innovative insurance fronting solutions, specializing in connecting Managing General Agents (MGAs) with reinsurance markets. Their services prioritize cost efficiency and streamlined processes, catering primarily to small and mid-sized MGAs throughout the United States.Buckle Agency, LLC was founded in 2017 and operates from Jersey City, US. The company focuses on providing fronting solutions for insurance via its wholly owned carrier, Gateway. Dustin Walsey serves as both the CEO and founder. The company has secured four deals, with the most recent occurring on September 29, 2021. During this time, Buckle raised USD 10 mn in VENTURE DEBT financing, led by Hudson Structured Capital Management, bringing their total amount raised to USD 60 mn.Buckle specializes in providing innovative insurance fronting solutions through its wholly owned carrier, Gateway. The company’s core offerings focus on lowering the costs associated with traditional fronting, which has historically been a commodity in the insurance market. By connecting Managing General Agents (MGAs) to reinsurance markets in a cost-effective manner, Buckle aims to streamline the onboarding process while fostering long-term partnerships. This service is particularly beneficial for small to mid-sized MGAs seeking to grow in select markets across the United States. Buckle’s platform is designed to eliminate high fronting costs, positioning itself as a preferable alternative for MGAs that might otherwise consider owning an insurance carrier.Buckle generates revenue primarily through partnerships with MGAs seeking fronting services. Through a structured partnership model, MGAs engage with Buckle to access its low-cost fronting platform, thus facilitating their connection to reinsurance markets. This business model enables Buckle to provide valuable guidance and competitive terms, enhancing MGAs' ability to operate effectively in their markets. While specific pricing details are proprietary, the company's revenue model hinges on transaction-based fees or subscription arrangements that reflect the services offered. Buckle's commitment to delivering professional guidance and efficient onboarding is central to its revenue-generating activities, positioning the company as a key player in the insurance fronting landscape.In September 2021, Buckle Agency, LLC raised USD 10 mn in VENTURE DEBT financing, which will be utilized to provide additional capital to support the premium growth of Buckle’s Gateway Insurance Company. The company plans to enhance its product offerings and expand into new markets, with specific targets aimed at increasing its footprint across the United States. Upcoming product launches are in the pipeline, aimed at further streamlining the fronting process and increasing accessibility for MGAs. Buckle's growth strategy includes leveraging its recent funding to scale operations and improve service delivery.

## Funding rounds

- Series B, Sep 29, 2021, $60M — Hudson Structured Capital Management, Eldridge Industries, Assurant Growth Investing, Volery Capital Partners
- Series A, Aug 4, 2020, $31M — Hudson Structured Capital Management, Eos Ventures

## Investors

- Hudson Structured Capital Management (https://capitalatlas.ai/funds/hudson-structured-capital-management) — Series A, Series B
- Eos Ventures (https://capitalatlas.ai/funds/eos-ventures) — Series A
- Eldridge Industries (https://capitalatlas.ai/funds/eldridge-industries) — Series B
- Assurant Growth Investing (https://capitalatlas.ai/funds/assurant-growth-investing) — Series B
- Volery Capital Partners — Series B