Poncho, a Swiss startup specialising in weather-based refunds for outdoor experiences, has raised $617k in seed funding.
The funding round was led by WeBuild Ventures, a notable investor in innovative technology startups, according to InsurTech Insights.
The new funding will be used to enhance Poncho’s product offering and expand its footprint across the Swiss travel and leisure industry. The company is also focused on making weather insurance accessible and user-friendly, as it builds partnerships with businesses to integrate its solutions more widely.
This marks a major milestone for Poncho, which was founded in 2023 and currently operates with a small team of three.
The firm provides a unique weather guarantee solution that automatically refunds customers for outdoor events disrupted by poor weather.
Targeting businesses in the travel and leisure sectors, the service aims to reduce cancellations, boost bookings, and enhance customer satisfaction.
The company’s API integrates seamlessly with client systems, simplifying adoption and improving operational efficiency.
Poncho leverages real-time weather tracking from top-tier sources, including NOAA, ECMWF, and DWD, ensuring accurate insights for its refund services. This data-driven approach supports seamless operations for businesses reliant on outdoor activities.
“After months of hard work, we are thrilled to announce that Poncho’s weather insurance solution is finally available! Our product allows travel and leisure businesses to seamlessly offer weather protection to their customers at the time of booking,” Poncho CEO Omar Jerrari said.
He added, “This funding is a significant step forward in our journey to make weather insurance accessible and straightforward for everyone. We’re excited to partner with our investors to bring Poncho’s vision to life and expand our footprint across the Swiss travel and leisure landscape.”
Nicolas Lagreze, managing director at WeBuild Ventures, praised Poncho’s potential, saying, “We believe Poncho is solving a real and growing pain point in the travel and leisure industries. Their innovative approach to weather insurance has the potential to create immense value for businesses and customers alike.”
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