Sofia said to close $19m Series A round led by Index Ventures

November 23, 2020

Sofia, a telemedicine and insurance startup, has reportedly received $19m in its Series A investment round.

Index Ventures acted as lead investor, with commitments also coming from Kaszek Ventures and Ribbit Capital, according to a report from TechCrunch. The deal marks Index Ventures’ first investment into a Latin American company.

By working with the new investors, Sofia is looking to increase its footprint and user activity.

The FinTech, which is based in Mexico, provides consumers with a health plan to cover them when they are injured. Through the mobile app, users can purchase cover that meets their needs. Its services include face-to-face consultation, home medicine, mental health support and more.

Sofia currently has a core group of around 100 physicians in Mexico City and is supporting around 170 specialist areas.

Sofia chief technology officer Arturo Sanchez told TechCrunch, “We registered as an insurance company because we want to go deeper into people’s health. We have built a telemedicine solution, which is a core component of the product. The goal is to be an integrated provider that provide primary care and handles more significant types of illnesses.”