Sure-Tech R&D Partnership raises NIS 26m in TASE IPO
Sure-Tech R&D Partnership for investment in insurtech and fintech has raised NIS 26 million, including NIS 5 million from the general partnership, in its Initial Public Offering (IPO) on the Tel Aviv Stock Exchange (TASE).
Sure-Tech CEO Ran Tzror said, We are setting out on a partnership whose declared aim is to make quality investments in startups in the fintech and insurtech sectors in Israel accessible to the investing public. I believe in the ability of the team that we have formed to make good deals that will bring value for investors over time.
Sure-Tech R&D Partnership plans raising NIS 36m in TASE IPO
The insurtech R&D partnership has already invested in two companies: AI risk assessor Vesttoo and AI and machine vision property insurer GEOX.
Israeli insurtech Sure-Tech Investments R&D Partnership plans to raise up to NIS 36 million in an Initial Public Offering (IPO) on the Tel Aviv Stock Exchange. The Partnership is committed to purchasing 20% of the final offering that will be set - at least NIS 25 million and it will invest between $1 million and $4 million in each target insurtech company.
Sure-Tech Partnership is seeking to take advantage of the major boom in the technological revolution in the worlds of finance and insurance in Israel, in which Israeli startup companies like Lemonade, Hippo and Next have become unicorns, within four to five years of their establishment. Sure-Tech has already invested in two companies, which it estimates have the potential to create a big change in the insurance market. This is as