Independent warranties company SquareTrade is adding Bain Capital to a list of investors also including JP Morgan as it closes a $238m funding round.

Affiliates of investment firm Bain Capital led a $238m equity investment round on Tuesday for SquareTrade, a US-based independent consumer warranty company that also counts financial services firm JP Morgan among its backers. Bain’s investment was made jointly by its private equity (PE) and venture capital (VC) divisions.

SquareTrade’s series B round raised $9m in 2000 from investors including Chase Capital Partners, the corporate venturing division of Chase Manhattan Bank prior to its merger with JP Morgan later that year.

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