Mexican insurtech Crabi raised a $13.6M round led by Kaszek and Ignia to expand its AI-powered car insurance platform. 30N, Redwood, Carao, Azuro, and Newtopia also participated in the round.
Crabi operates with its own insurer license and partners with car dealerships, financing platforms, and rental companies to distribute its products. With the new funding, Crabi will expand its distribution network and enhance its AI-powered platform.
Crabi offers a fully digital insurance solution to the Mexican market, where over 70% of vehicles are uninsured. Crabi provides a mobile-first platform that gives users instant policies, automated claims support, and transparent pricing. Using AI, Crabi streamlines operations from generating insurance quotes to claims processing.
For the past three years, Crabi has more than doubled its growth year-over-year and increased its run rate by more than 20x.
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