Israel-based venture capital investment firm FinTLV recently announced it has closed its second $120 million global insurtech-fintech fund. According to FinTLV, the fund will focus primarily on global growth-stage insurtech and fintech companies
“The Fund has recently made several substantial investments in leading insurtech companies. The fund led a $150 million financing round in Hippo Insurance with an investment of $50 million at a valuation of $1.5 billion.”
FinTLV further revealed it also invested about $50M as part of a $250M round in Next Insurance at a valuation of about $2 billion, alongside Google’s growth fund Capital G. Finally, the Fund invested in Unqork, which has recently completed a financing round of about $200 million led by BlackRock at a valuation of about $2 billion.
Avishai Silvershatz, Managing Partner of the Fund, went on to add:
“In order to be a successful insurtech company, a company needs to have not only great technology but also the ability to cope with high regulatory barriers, to meet capital solvency requirement, to establish relationships with other players in the insurance ecosystem, to build expertise in risk assessment and on-line marketing, to have financial sophistication, to manage M&A activities and more.”
Founded in 2016, FinTLV claims it has backed some of the most promising companies in the U.S., Europe, and Israel.