Salvadoran Sostengo raised $3.8M in a seed round. The insurtech has extended the round by an additional $1M for U.S. expansion.
“This funding round will allow us to continue growing in Central America and introduce our solution to U.S. Hispanics, with key investors and industry experts by our side,” said Estuardo Escobar, CEO of Sostengo.
Sostengo allows users to quote, customize, purchase policies, report incidents, receive emergency assistance, and complete payment processes via mobile.
Founded in 2021, Sostengo has enabled 70% of its users to get car insurance for the first time.
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