Vesttoo CEO Yaniv Bertele — LinkedIn
Vesttoo, an Israeli insurtech startup and a unicorn – a startup worth at least $1 billion – that has developed technology in the field of risk management, is now worth somewhere between $1.5 to $2 billion, according to a report in Calcalist. The new valuation came with a Series D round of funding whose details have not yet been revealed.
This news comes after Vesttoo first became a unicorn after it raised $80 Million last October in a Series C financing round co-led by Mouro Capital and a private equity fund, which at the time left the company with a $1 billion valuation.
This is some badly needed good news for a change as Israel Startup Nation has been suffering more from contraction and failures in recent months due to the global financial crisis. It’s gotten so bad lately that it seemed like there would be stories of unicorns losing that status, rather than gain it.
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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.
As a one-stop-shop provider, Vesttoo says that its technological platform takes care of every aspect of the deal. From accurate AI-based risk modeling to structuring, pricing and performance monitoring – with no upfront fees or frictional costs.
Vesto CEO Yaniv Bertele, reported Calcalist, wrote to employees saying, “the company has already started a funding process at a significantly higher value than the previous round, which will be completed in the coming months.”
Earlier this month, Vesttoo appointed Jon Ewing as Chief Marketplace Officer. Ewing, said the company, has extensive experience in financial services and expertise in launching trading platforms. He will spearhead the development of Vesttoo’s digital marketplace for insurance risk.
