Latú Seguros, a Latin America-based InsurTech, has reportedly raised $6.7m in its pre-seed funding round.
The funding round was led by CRV and Monashees, with participation of ONEVC, Latitude and SVAngel, according to a report in FinTech & Finance News.
The round was also backed by several angel investors, including Simon Borrero, Sebastian Mejia and Felipe Villamarin from Rappi, Santiago Suarez and Daniel Vallejo from addi, among many others.
With the capital, the Brazilian company plans to further the development of its core underwriting technology, expand its insurance products and hire more cyber and engineering experts.
Latú Seguros is a Latin America-based InsurTech that offers business insurance services. Its products include professional indemnity, cyber insurance, corporate travel, tech errors and omissions, SME package and directors and officers.
Its dynamic cyber coverage offers protection for current and future cyber risks. It also offers frictionless monitoring built into your systems, so developers and focus on business.
Latú Seguros founder Paola Neira told FinTech & Finance News, “Real magic happens when combining the concept of a safety net, which is ultimately what insurance is at its core, with technology. We have an incredible opportunity to replace legacy policies with lifetime risk-mitigating partnerships, which work best to solve the needs for a fast-paced and hyper-connected world.
“Businesses can no longer rely on paper ledgers, instead they want, and deserve, to leverage a mix of technological innovation, insurance experience and local knowledge which is exactly what we are using at Latú to build products.”
Brazil’s FinTech sector has had a strong year, with many companies raising capital. Last week, SaaS-based data aggregation, analytics and API provider Klavi raised $15m in its Series A funding round.
In the first half of 2022, Brazil’s Neon, a digital bank that offers credit card and loans, was the biggest marketplace lending deal. It raised $300m for its Series D. Brazil’s Creditas also made it into the top ten, coming in at the third biggest.
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