The capital fund investment company Kaszek Ventures closed Series A of its second investment round and allocated 4 million dollars (MDD) to the Guadalajara company CRABI digital auto insurance platform.
Today in Mexico there are 50 million cars at the end of 2019, according to the vehicle fleet detailed by the National Institute of Statistics and Geography (INEGI), of which only 30% have insurance, so they visualized there a business opportunity.
Cristina Carballo, co-founder of CRABI, explained the competitive advantage they have and that they have currently been validated as an auto damage insurer by the National Insurance and Bonding Commission (CNSF).
“We are car insurance, what makes us different is that it is 100% digital, this means that users do so directly from the web or from its application in order to purchase insurance, they do not have to sign any paper or go to offices. , everything is digital, we have that history of users to be able to offer them benefits, every time they renew with us or complete a history with us, we have different programs and we can offer other benefits that other insurers do not offer ”, said the businesswoman.
COURTESY / CRABI
They currently have clients in 27 states of the republic and seek to expand entirely in Mexico, they insure private cars models from 2000 onwards, with different coverages with the “Insurance as you want” program at 30% lower costs compared to other companies, claims adjusters are outsourced to other companies.
Kaszek Ventures is the venture capital investment fund, led by Hernán Kazah and Nicolás Szekasy both were business executives at the start of the Argentine company Mercado Libre, which invested in total in nine unicorns, including Kabak, Bitso and Nubank.