Vesttoo, a technology-driven global insurance risk transfer platform, has raised $80m in Series C funding.
The round was co-led by Mouro Capital and a private equity fund. A US-based bulge-bracket investment bank, Gramercy Ventures, Black River Ventures and Hanaco Ventures also participated in the round.
The raise also sees Vesttoo valued at $1bn.
Vesttoo connects the insurance industry and the capital markets by combining AI-powered technology with expertise in data science, insurance and finance so that insurers have the capital they need and investors have opportunities to diversify with uncorrelated low-volatitility insurance-linked assets.
The company partners will well-established global insurers, financial institutions and large multinational brokers.
The Series C comes less than a year after Mouro Capital led its Series B round with participation from MS&AD Holdings. The Series B came just three months after the company’s Series A round.
Since then, Vesttoo said it has developed its AI-based marketplace, the company’s data-driven platform that facilitates the investment od new sources of capital in the insurance market.
Vesttoo added that it has also expanded its global operations in the past year, hiring acorss London, Hong Kong, Seoul, Dubai and Tokyio, and grown its bases in New York and Tel Aviv.
The company said it will use the capital to further expand this global presence, enhance its marketplace platform and widen its offering to insurers and investors.
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.”
Chris Gottschalk, general partner at Mouro Capital, added, “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.”
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