The startup will use the money to extend its runway up to 30 months and continue its growth strategy to raise a strong series B and avoid a downround.
Justos’ CEO, Dhaval Chadha, admitted that the company is growing lower than expected at the Series A: “We’re at lower growth but much healthier than we had projected, and on a pretty comfortable runway,” he said.
Justos uses machine learning models to offer better-priced car insurance, with custom premiums for each driver. Plus, the company offers drivers a discount on their monthly payment depending on their driving habits.
In October 2021, Justos raised one of the largests Series A rounds in LatAm, securing a $40M investment.
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