Sigo Seguros, a car insurance startup focused on underserved communities, has raised $10.5m in a Series A funding round.
The round was led by Varco Capital and Listen, with additional support from Angeles Ventures, Flintlock Capital, Zeal Capital, Rise of the Rest, and Fiat Ventures, according to the Coverager.
Founded in 2018 and based in Austin, Texas, Sigo Seguros primarily targets immigrants and working-class communities with its unique “Spanish-first approach”.
The company currently offers car insurance coverage in Texas through a partnership with Old American Insurance and plans to expand its services to Florida and California.
The fresh funding will be used to fuel this geographical expansion and enhance its product offerings. Additionally, the company aims to continue its focus on providing accessible, inclusive car insurance to underserved groups across more states.
Sigo Seguros reports that it has already provided coverage to over 60,000 individuals. In 2023, its partner, Old American, disclosed that the startup was responsible for generating $13.8m in written premiums.
The company previously raised $12m in disclosed funding before this Series A round.
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