FinTech and InsureTech Booms in Israel as $120M Raised for Investments
FinTLV, a fund based in Tel Aviv, has announced that it has collected $120 million worth of funds for the growth stage of FinTech and InsureTech companies investment. A fund worth $200 million has already been invested for FinTech and InsureTech before.
FinTLV Founding Partner Gil Arazi said in the release, “The insurance industry is a huge industry undergoing a fundamental disruption. The revenue of the U.S. insurance industry is five times larger than that of the banking industry, yet the technology used by most insurance companies is antiquated. The leading InsurTech companies drive this revolution. The unique understanding of this market, as well as the rich network with many tens of insurance players around the globe, give us access to the most lucrative investment opportunities in the field.”
Israeli venture capital firm FinTLV raised $120 million for a new fund investing in global growth-stage insurance and fintech companies https://t.co/6VgujkUah7
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According to Avishai Silvershat, the managing partner of FinTLV, the insurance companies need to have a great technology along with the ability to survive with the high regulatory limitations. To be able to meet the requirements of capital solvency, to build a risk assessment system, establish good relations with other insurance companies in the market, and to manage M&A activities.