Mill Street & Co. today announced an investment in Tuque Inc. for a minority stake in the company. Tuque had previously announced the investment on February 27, 2017.
Noah Murad, Mill Street CEO, has joined Tuque board of directors.
Tuque, an InsurTech company that is leveraging advanced technology to enhance the customer experience. Along with this fresh approach to customer interaction and the transactional process of purchasing insurance, the company will be introducing innovative insurance products to the evolving Canadian marketplace.
Tuque will officially be launching in the first quarter of 2017.
“Mill Street brings a wealth of resources and expertise to Tuque that will dramatically enhance our market value, while also providing a solid foundation from which we can continue to develop a sustainable business that is built for long-term success,” said Shaun Bagchi, President of Tuque. “Joining Mill Street is like adding rocket fuel to our engine – we’re now fully set to take off.”
“Through this investment, Mill Street has entered the insurance space in a unique and innovative way that will be well positioned for addressing the emerging needs of Canada’s insurance market,” commented Murad. “We see very strong potential in Tuque, especially given the strength of its leadership team led by Shaun Bagchi. Combining Shaun’s strong market experience with his entrepreneurial drive and creative approach to uncovering opportunity, Tuque is set to deliver significant value to Canadian policy holders from coast to coast.”
A significant addition to the bench strength of the leadership team, John Tagle will assume the role of Tuque’s Chief Sales Officer. “I’m very excited to bring this level of experience and proven track record to our executive team,” said Bagchi. “It will be fascinating to see John drive Tuque’s sales and market presence forward nationally.”
photo credit: Tuque