In an exciting development, the company has extended the round with an additional $1 million to support its expansion into the lucrative US market.
Founded in 2021, Sostengo has emerged as a trailblazer in Central America’s insurance landscape, offering the region’s first 100% digital end-to-end solution. Its innovative approach, exemplified by the first self-managed automotive insurance app in the area, has resonated strongly with consumers, enabling thousands of individuals, constituting 70% of its current customer base, to access insurance conveniently via their mobile phones.
The company’s remarkable performance is underscored by its staggering 103% year-on-year growth in premiums sold, reflecting its robust expansion and increasing influence within the insurance sector. Despite a notable rise in registered vehicles in Central America, with less than 10% being insured, Sostengo is poised to address this gap by providing a customisable, accessible, and user-centric insurance experience.
Sostengo’s platform empowers users to seamlessly quote, personalize, purchase insurance, report incidents, and receive emergency assistance—all within minutes and at their fingertips. Beyond mere protection, the company is committed to educating users on the broader vision of insurance as a strategic investment ensuring long-term physical security for drivers, their assets, and third parties in unforeseen circumstances.
“Insurance plans and online marketing run through our DNA. I am satisfied with the path and future strategy of SOSTENGO , which convinced me to invest and close the round,” said Julio González Arrivillaga, co-founder of People Fund and healthcare.com.
Estuardo Escobar, CEO of SOSTENGO, also commented, saying: “We are excited to continue revolutionising the industry and position ourselves as the pioneers in the digitalisation of insurance in the region.”
He added: “This new round of financing will not only allow us to continue growing in Central America, but also present our solution adapted to Hispanics in the United States, together with key investors and industry experts such as the founders of healthcare.com” .
