Vesttoo celebrates unicorn status after $80mn Series C round

Vesttoo, the Tel Aviv-based insurance risk transfer platform, has hit unicorn status for the first time after sealing US$80mn in its Series C funding round

Israeli insurtech Vesttoo, which provides a technology-driven insurance risk transfer platform, has secured unicorn status for the first time after closing an US$80mn Series C funding round.

Vesttoo uses AI to connect insurance and capital markets, giving insurers the capital they need and investors the opportunity to diversify with uncorrelated, low-volatility insurance-linked assets. The latest financing, co-led by Mouro Capital and a private equity fund, values the company at exactly US$1bn. A US-based bulge-bracket investment bank, Gramercy Ventures, Black River Ventures and Hanaco Ventures also participated in the round.

It comes less than a year after London-based Mouro Capital led Vesttoo’s US$15mn Series B round and brings Vesttoo’s total funding to date to more than US$100mn. Since the last funding round, 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.

The company has expanded rapidly in the past year, hiring new talent in London, Hong Kong, Seoul, Dubai and Tokyo, as well as growing its New York and Tel Aviv bases. It has also established a Bermuda-based collateralised insurer and hired senior talent to bolster its executive leadership team. It intends to use the capital raised to further expand its global presence, enhance its marketplace platform and widen its offering to insurers and investors. In August, Vesttoo partnered with Clear Blue to provide the P&C insurer with reinsurance capacity totalling US$1bn.

Vesttoo ‘showing resilience, strength and profitability’

Vesttoo CEO Yaniv Bertele says: “Our clients and equity partners understand the Vesttoo vision and the opportunity we provide. 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.”

Chris Gottschalk, General Partner at Mouro Capital, continues: “Vesttoo has built a unique marketplace, proven by robust market demand and the company's impressive growth trajectory. We are thrilled to double down on our partnership with Vesttoo as they continue to scale in a market ripe for innovation.”


Featured Articles

Insurtech Bdeo’s CEO talks digital transformation & adoption

Julio Pernía Aznar, CEO and co-founder of Bdeo, discusses the insurance market predictions for 2023 and beyond, for digital adoption

Insly's Risto Rossar on the outlook for low-code software

Risto Rossar, Founder and CEO of low-code provider Insly, talks about the state of digital transformation in insurtech and what to expect from the future

Top 10 insurtech investment funders of 2023

The growth of insurtech has been driven by market demand and the power of investment. We round up the top 10 insurtech funders scaling the industry

FOUR leading usage-based insurance trends for the year ahead


INSTANDA CEO & Founder talks career moves & insurtech growth


10 benefits ERP technology brings to the insurance industry

Technology & AI