Investment

Redwood Ventures leads a $1.3M round in Crabi

LatAm ListCrabi, a Mexican insurtech startup, recently raised $1.3M in their seed round. Redwood Ventures led the round, along with other angels and Family Offices.

The platform provides usage-based insurance using telematics. Crabi also rewards responsible drivers with better fees, promoting more responsible behaviour while driving.

“We trust that Crabi will be the leader in digital innovation in auto insurance in Mexico and the world. This industry is ready for a change and we’re excited to invest in a team that has the experience, the vision, and the drive to offer the best results. We look forward to growing with Crabi and helping them with their expansion throughout Mexico,” said Ian Paul Otero, Redwood Ventures’ General Partner.

Recently, the National Commission of Insurance and Finance gave Crabi authorization to operate as an institution for insurance and car damage claims.

Read more on LAVCA.

 

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