But he says this isn’t “sustainable or the right way” to do this. Kapanoglu says hundreds of “good Samaritans” have been giving out their own, premium paid API access keys (Twitter already offered a paid version with more features) for use in the rescue efforts. Nonprofits, researchers and others need the tool, known as the API, or Application Programming Interface, to analyze Twitter data because the sheer amount of information makes it impossible for a human to go through by hand. “That’s not just for rescue efforts which unfortunately we’re coming to the end of, but for logistics planning too as people go to Twitter to broadcast their needs,” said Sedat Kapanoglu, the founder of Eksi Sozluk, Turkey’s most popular social platform, who has been advising some of the volunteers in their efforts. They could lose access as soon as Monday unless they pay Twitter a monthly fee of at least $100 - prohibitive for many volunteers and nonprofits on shoestring budgets. In the aftermath of the devastating earthquake in Turkey and Syria, thousands of volunteer software developers have been using a crucial Twitter tool to comb the platform for calls for help - including from people trapped in collapsed buildings - and connect people with rescue organizations. Starting Monday, a crucial Twitter tool known as Application Developer Interface, used by software developers to comb the platform for calls for help from earthquake victims, may be accessible only by paying a $100 monthly fee. The company raised $258 million at the beginning of October 2020 at a valuation of $2 billion.Members of a search and rescue team work on a collapsed structure after the earthquake in Antakya, southeastern Turkey, Sunday, Feb. The fund invested in an additional unicorn, Unqork, Inc., which develops non-coded platforms for financial and insurance services (and is defined by rapid development without the need for software programmers). In which Google’s investment fund led a $250 million round last September at a valuation of $2.25 billion, where FinTLV invested $50 million. Recently, Next Insurance achieved unicorn status The rest of its money it invested in nine different fintech and insurtech companies, among them Next Insurance, which is the largest digital insurance company for small Israeli business. So far FinTLV has raised $210 million, of which $150 million was in Hippo. Its investors also include BDO Israel, Ayalon Insurance Company Ltd., Hong Kong-company FWD Group, Japanese MS&AD Insurance Group Holdings, Inc., Danish-LB Group, Italian-Reale Mutua, and others. We value our partnership with FinTLV and are expanding our investments into a second fund,” Clal Insurance CEO Yoram Naveh told Calcalist.Īrazi, one of the founders and Managing Partner of FinTLV added that “the second fund will focus on late-stage transactions (a later-stage in a startup’s life which is characterized by third round investments), and will continue to invest in insurtech companies around the world.”įinTLV was founded in mid-2018 by Arazi and is a fund that concentrates on financial technology, particularly in fintech and insurtech, and whose portfolio companies operate in the U.S., Europe, and Israel. Among those investments are companies including DIVI, AMOUNT, Hippo and Pagaya. “Today, Clal Insurance is managing its diverse private investment portfolio in technology sectors, which are estimated to be around $1.2 billion. Of that amount, $55 million has been invested in FinTLV’s first fund, while the second one is in the process of raising $210 million. The investment by the Israeli institutions in Hippo paid off after four months, when Hippo raised $350 million from the digital insurtech Japanese company Sumitomo Mitsui Banking Corporation last November, which was at a valuation of $3 billion.Ĭlal has served as FinTLV’s anchor since its founding in mid-2018, investing around $90 million so far.
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