Latú Seguros, an insurtech based in Brazil, has closed a $6.7M pre-seed round led by CRV and monashees. Other participants in the round were ONEVC, Latitud, SVAngel, founders of Rappi, Addi, Tul, and more.
The startup offers business insurance with which clients can receive coverage of up to $10M against lawsuits, cyber-attacks, property damage, compliance breaches, and more in a couple of minutes.
Latú is short for Latin American Tech Underwriters, and the startup’s founder Paola Neira is part of the Rappi Mafia. She worked for the company as a Director of Product Management, leading the technology team that worked on Rappi’s logistics algorithms. Paola shared how Latú will invest the new funds:
“We are investing the initial resources in continuing to grow the engineering and cybersecurity team, finish developing our product, there is a nice opportunity to do risk understanding in a different way than Excel and PDF documents, understanding not only the company we are insuring but their entire network. We see this as an opportunity for companies to grow.”
She also explained how Latú could accelerate the insurance industry:
“We have an incredible opportunity to replace archaic policies and paper-and-pencil models with a combination of technological innovation, industry expertise, and local knowledge. We believe this is the only way to manage risks in a globalized, hyper-connected, and fast-paced world.”
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