The Agencia Española de Cooperación Internacional para el Desarrollo (AECID), the primary management body of the Cooperación Española, will invest €25m in Mundi Ventures, a management firm dedicated to supporting InsurTech startups and adjacent sectors.
This investment, approved by FONPRODE, aims to contribute to sustainable development and poverty alleviation in Latin America, a priority region for the Cooperación Española.
Mundi Ventures already has a presence and investments in this region, making it a strategic partner for AECID’s goals.
Mundi Ventures is known for its impactful investments across various regions including Europe, the United States, Asia, and Latin America. The firm has invested in key sectors such as climate technology with companies like Submer in Europe and Raincoat in Latin America. Additionally, it supports health-oriented companies like Cuideo in Spain and Sami in Brazil, which focus on improving health outcomes.
The new funding from AECID will further Mundi Ventures’ mission of internationalisation and support for impactful investments. The capital will be allocated to insurtech startups and sectors that drive digitalisation and improvement within the insurance industry, especially in Latin America.
Mundi Ventures’ portfolio includes over 60 companies, with significant investments in Latin America. Notable investments include Betterfly, which offers life insurance through a wellness solution covering over one million lives, Olé Life, a life insurance provider, and Sami, which provides tech-supported health insurance for underserved populations.
In Europe, Mundi Ventures focuses on enhancing and advancing technologies to support aging populations, thereby contributing to longevity. In Latin America, the firm prioritises inclusion and protection, aiming to close the insurance coverage gap.
This partnership underscores the critical role of financial cooperation in achieving sustainable development goals. AECID’s support will bolster Mundi Ventures’ efforts to foster innovation and digitalisation in the insurance sector, promoting greater inclusion and protection.
AECID Director José Luis Calvo said, “This investment aligns with our commitment to sustainable development and poverty reduction in Latin America. We are excited to support Mundi Ventures in their mission to drive digitalisation and improvement in the insurance sector.”
Mundi Ventures CEO Javier Santiso said, “We are honoured to receive this investment from AECID, which will enable us to further our mission of supporting impactful InsurTech startups and promoting financial inclusion in Latin America.”
In previous funding rounds, Mundi Ventures has successfully raised capital to back its extensive portfolio of companies across multiple regions, demonstrating its commitment to impactful and sustainable investments.
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