Vesttoo, a Tel Aviv, Israel-based provider of a technology-driven global insurance risk transfer platform, raised $80M in Series C funding.
The round was led by Mouro Capital and a private equity fund, valuing the company at $1 billion. In addition Gramercy Ventures, Black River Ventures and Hanaco Ventures also participated.
The company intends to use the funds to further expand its global presence, enhance its marketplace platform and widen its offering to insurers and investors.
Led by CEO Yaniv Bertele, Vesttoo connects the insurance industry and the capital markets by combining AI-powered technology with expertise in data science, insurance, and finance, so that insurers have the capital they need, and investors have opportunities to diversify with uncorrelated, low-volatility insurance-linked assets. Among its partners are established global insurers, financial institutions, and large multinational brokers.
The company has rapidly expanded its global operations in the past year, hiring professionals in London, Hong Kong, Seoul, Dubai and Tokyo, as well as growing its New York and Tel Aviv bases, establishing a Bermuda-based collateralized insurer, and hiring talent to bolster its executive leadership team.
Vesttoo has also developed its AI-based marketplace, a data-driven platform that facilitates the investment of new sources of capital in the insurance market. It will allow investors to access a variety of reinsurance products and monitor their performance with transparent and data-driven analytics, while also modeling risk portfolios, providing premium quotes for related reinsurance coverage, and expediting the placement of ceded risks to the market.
FinSMEs
26/10/2022