Vesttoo raises $6 million
According to Calcalist, Tel-Aviv based Vesttoo has raised $6 million in a fundraising round led by Hanaco venture capital fund.
Founded in 2018, Vesttoo (a team of 26) has developed AI-based technology in the field of risk management that allows insurance companies and reinsurers to transfer their insurance risks to the capital market through the use of financial instruments for investment.
“This is a significant expression of confidence in our activities towards growth and overflow of value. The investment will enable the company to achieve its business and strategic goals, including the development of the Insurance-Linked Program – an innovative program that allows institutional investors to invest in alternative reinsurance transactions by providing existing securities as collateral, and developing the world’s first digital insurance trading platform.” – Yaniv Bertele, CEO and co-founder of Vesttoo.