The digital insurer plans to expand its operations to the United States and Europe. WeSure Global Tech, the parent company of digital insurer WeSure, has published an initial public offering (IPO) offering on the Tel Aviv Stock Exchange (TASE). The company plans to sell a 20% stake for 100 million shekels, worth 500 million shekels after the money. WeSure is founded by Chairman Emil Vainshel, who owns 71.5% of the shares and CEO Nitzan Zeir Harim, who owns 17.9%, who is joined by former Police Chief Yohanan Danino (2.9%). After witnessing the international success of Israeli insurance technology company Lemonade (NYSE: LMND), the IPO is designed to help WeSure launch international operations. The company said it needs to “increase capital in order to accelerate the group’s business development plan, as part of which it will expand the company’s activity areas and market share in Israel, as well as prepare to enter US and European operations in the coming years.” The show was led by IBI Poalim. The company’s last round of financing was in 2018, when it raised NIS 114 million in funds. Posted by Globes, Israel business news – en.globes.co.il – on February 11, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021 Yohanan Danino Photo: Together
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