Akad Seguros, a São Paulo, Brazil-based digital insurance company, raised US$22.5M in Series A funding.
The round was led by Valor Capital Group with participation from Across, Endeavor Scale-Up Ventures, Endeavor Catalyst and Actyus.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Danilo Gamboa, Akad is a digital insurance company that operates with property risks and financial lines, as well as offering protection for cyclists and service providers. Akad recently obtained authorization from the Superintendence of Private Insurance (SUSEP) to operate in the personal insurance business – a growing market that already exceeds R$60 billion. The plan is to offer a more complete range of products and solutions to brokers and partners, always using technology to differentiate the quality of the service offered.
Commenting on the news, Danilo Gamboa said: “The experience of these investors will contribute greatly to our exponential growth. This funding reinforces our ability to use technology intensively to offer increasingly better services to our partners.”
FinSMEs
12/04/2024