Vesttoo

The firm’s statement followed allegations in Israeli tech media of missing collateral linked to deals it was concerned in.

William Cheney is set to join the firm as head of insurance US later this month.

The executive will build out Vesttoo’s capital markets team in the region.

The company will use the funds to expand its global presence, enhance its marketplace platform and widen its offering.

Vesttoo's aim for the partnership is to bridge the gap between the insurance and capital markets, scaling insurance-linked investments as a source for reinsurance capacity.

The incoming CFO brings with him more than 15 years of experience in financial services, insurance and capital markets.

The AI-driven platform has been building out its team this year.

Acrisure Re brokered the deal.

The investment comes just three months after a Series A funding round led by Hanaco Ventures.

The insurance marketplace aims to bridge the gap between insurance and capital markets.

Daniel Butzbaugh will work at the company’s New York office and lead its cat and industry loss warranty transactions.

The business acts as a transformer, allowing traditional asset managers the chance to participate on collateralised (re)insurance transactions.