Vesttoo raises $80 million, valuing company at $1 billion
Vesttoo Ltd, a technology-driven global insurance risk transfer platform with a collateralised insurer in Bermuda, has concluded an $80 million Series C financing round.
It was co-led by Mouro Capital and a private equity fund, valuing the company at $1 billion. A US-based bulge-bracket investment bank, Gramercy Ventures, Black River Ventures and Hanaco Ventures also participated in the round.
Yaniv Bertele, CEO of Vesttoo, said: "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.”
The company said it had 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 Bermudian-based collateralised insurer, and hiring senior talent to bolster its executive leadership team.
Vesttoo said it intended to use the capital raised to further expand its global presence, enhance its marketplace platform and widen its offering to insurers and investors.
Vesttoo Alpha P&C Ltd was registered by the Bermuda Monetary Authority in July.
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