LatamList – Jooycar, a Chilean insurtech, raised $700K from HCS Capital for expansion into the US auto insurance market.
Jooycar is reportedly the first connected car insurance company in Latin America. The platform uses telematics-based technology to provide both personal and commercial lines, as well as B2B fleet management solutions.
With the Jooycar technology, customers receive a telematics hardware device and an account that allows users to access their connected car services through the online platform.
The startup previously received a $3M investment from HCS Capital in 2018 after its first investment from Magma Partners. The new funding will continue Jooycar’s expansion in the U.S. market.
“We chose HCS Capital over other investors due to their hands-on experience in Insurtech digital platforms. They are a strategic partner with the will, industry knowledge, and resources to actively support the globalization of our company,” commented the startup.
Jooycar plans to launch its services in the US later this year.
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