Vesttoo is an Israeli insurtech startup that has developed technology in the field of risk management. Vesttoo completed a $6 million funding round led by Hanaco venture capital fund. SureTech, which invested in the company just four months ago, says that Vesttoo has increased 80% in value since then.
SureTech R&D Partnership invests in new technologies and went public on the Tel Aviv Stock Exchange last year. SureTech put $2 million in Vesttoo at a company valuation of $20 million. So that would mean that SureTech now values Vesttoo at $36 million.
Founded in 2018 by CEO Yaniv Bertele, CPO Alon Lifshitz, and CTO Ben Zickel,, Vesttoo specializes in data-driven risk management solutions for the P&C and longevity markets, using “cutting-edge technologies to transfer General Insurance, Lapse, and Longevity risk to the capital markets.” Vesttoo declares that it provides insurers and pension funds with low-cost, strategic risk transfer to the capital markets, while investors benefit from correlated, high-yield investments with remote loss possibilities.
“Vesttoo is a one-stop-shop solution provider and takes care of every step of the deal thanks to cutting-edge proprietary AI and machine learning stochastic algorithms, which create highly accurate risk models and forecasts.”
Sure-Tech CEO Ran Tzror said, “We welcome Hanaco fund in participating in the investment in Vesttoo and we are pleased that SureTech’s well thought out strategy of investing in companies with attractive pricing, just ahead of their business breakthrough point, has proven itself again – especially as it is possible to see the creation of value for our investors. We hope that in the very near future, we will see additional developments in companies in which we have invested as well as in new investments that we will undertake.”
Vesttoo CEO and cofounder Yaniv Bertele said, “We are very pleased that the Hanaco fund has joined the company as an investor. This is a major vote of confidence in our activities towards growth and creating value. The investment will allow the company to achieve its business targets and strategy, which includes developing an insurance-linked program – an innovative plan that will allow institutional investors to invest in alternative reinsurance companies by putting up existing securities as collateral, and developing the world’s first digital platform for trading in insurance risks.”