Sigo Seguros secures $10.5m to enhance car insurance options

TLDR:

• Sigo Seguros, a car insurance startup focused on underserved communities, raises $10.5m in Series A funding round.
• The company, founded in 2018 and based in Austin, Texas, targets immigrants and working-class communities with a “Spanish-first approach.”

Sigo Seguros, a car insurance startup based in Austin, Texas, has secured $10.5m in a Series A funding round led by Varco Capital and Listen. The company focuses on providing car insurance to underserved communities, particularly immigrants and working-class individuals, with its unique “Spanish-first approach.” Currently offering coverage in Texas through a partnership with Old American Insurance, Sigo Seguros plans to expand its services to Florida and California using the fresh funding. With a mission to continue offering accessible and inclusive car insurance to underserved groups, the company has already provided coverage to over 60,000 individuals and generated $13.8m in written premiums in 2023. This funding round follows a previous raise of $12m in disclosed funding, showing the company’s growth and potential in the insurance industry.