Vesttoo, a Tel Aviv, Israel-based technology-driven global insurance risk transfer platform, announced that it raised $80 million in Series C funding, valuing the company at $1 billion.
The round was co-led by Mouro Capital and a private equity fund, with participation from a US-based bulge bracket investment bank, Gramercy Ventures, Black River Ventures, and Hanaco Ventures.
Vesttoo intends to use the capital raised to expand its global presence further, enhance its marketplace platform and widen its offering to insurers and investors.
“Our clients and equity partners understand the Vesttoo vision and the opportunity we provide,” said Yaniv Bertele, CEO of Vesttoo. “In a time rife with uncertainty, Vesttoo is showing resilience, financial strength, and profitability, thanks to our compelling value proposition. Our AI-based marketplace is set to propel the insurance industry forward by better connecting risk to capital sourced from global investors.”
Vesttoo has further developed its AI-based marketplace, the company’s data-driven platform that facilitates the investment of new sources of capital in the insurance market. Investors benefit by accessing a low-volatility risk class uncorrelated to financial markets.
In the past year, the company has rapidly expanded its global operations: 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 senior talent to bolster its executive leadership team.
Company: Vesttoo Ltd
Round: Series C
Funding Month: October 2022
Lead Investors: Mouro Capital
Additional Investors: bulge-bracket investment bank, Gramercy Ventures, Black River Ventures, and Hanaco Ventures
Company Website: https://vesttoo.com/
Software Category: Insurance Risk Transfer Platform
About the Company: Vesttoo is a marketplace for non-catastrophe insurance-based risk transfer and investments. Its proprietary AI-based technology facilitates risk transfer between insurance companies and institutional investors. It provides insurance-linked investments to asset managers of all types while enhancing risk transfer and liquidity in the life and P&C insurance markets. The Vesttoo marketplace will allow investors to access various reinsurance products and monitor their performance with transparent and data-driven analytics. Vesttoo connects the insurance industry and capital markets by combining AI-powered technology with data science, insurance, and finance expertise. Its vision is to create a world where the insurance and capital markets are fused and globally accessible, bridging the insurance funding gap with capacity from the capital markets.