Recently, the company proudly announced the acquisition of an additional $5.1m in its pre-Series A funding round. This financial boost was co-led by Zeal Capital Partners and Listen Ventures, while existing investors such as Chingona Ventures, Revolution’s Rise of the Rest, Fiat Ventures, and Remarkable Ventures also joined the fundraise.
In the vast and competitive InsurTech market, Sigo Seguros is making a name for itself by providing equitable and easily accessible coverage for immigrant and working-class drivers, with a special focus on Latino and Spanish-speaking communities. The company’s bilingual, mobile-first platform disrupts traditional industry practices by removing biased rating factors like credit score and employment status. In a sector often overlooked by larger companies, Sigo Seguros stands out by offering exceptional customer service, transparent pricing, and a fully bilingual customer journey.
The new funding will facilitate Sigo Seguros’ rapid growth trajectory, allowing it to expand its customer-oriented technology and continue the digital transformation of its underwriting process.
Nestor Hugo Solari, Co-Founder and CEO of Sigo Seguros, shared his excitement for the partnership with Zeal, acknowledging their shared understanding of the positive impact that access to proper financial products can have on the economic mobility of Sigo Seguros’ customers.
The quote from Zeal Capital Partners’ Principal, Andy Will, reinforced the company’s decision to invest in Sigo Seguros, praising their direct-to-consumer digital-first approach as a strategy perfectly aligned with Zeal’s Inclusive Investing™ principles.
Further demonstrating its rapid growth, Sigo Seguros surpassed its sales from the previous year in the first half of 2023 alone. With a plan to double its team by the end of the year, the recent financing positions the company to expand into new markets. These markets are characterised by large immigrant communities with limited suitable options for auto insurance, illustrating Sigo Seguros’ continued commitment to providing an inclusive solution in a predominantly online environment.
Source: Fintech Global