Mexico-based insurtech Super.mx has acquired $7.2 million in fresh capital as part of a recently closed Series A round.
The funding round was led by ALLVP with the participation of Bridge Partners, Goodwater Capital Kairos Angels, and angel investors Joe Schmidt IV and Kyle Nakatsuji.
Launched by three co-founders almost two years ago, the firm’s CEO Sebastian Villarreal stated that Super.mx’s goal is to reshape insurance offerings in a way that is appealing to “the emerging Latin American middle class.”
“That means insurance that is easy to buy – it can be bought on a cell phone in minutes – and that pays quickly with no adjusters,” he said.
The company has developed, designed, and applied proprietary models to its services, making it possible to predict risk during its underwriting process, and also allowing for an automated claims-payout process.
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