U.S. Insurtech Sigo Raises $1.5 Million Through Seed Funding Round
Sigo, a U.S.-based insurtech that specializes in car insurance, announced on Tuesday it raised $1.5 million through its latest Seed funding round, which saw participation from Amicle Capital, Bonded Capital Ventures, Demeter Capital, Financial Solutions Lab, Park City Angels, and gANGELS.
Founded in 2019, Sigo describes itself as an inclusive auto insurance provider focused on the $20 billion emerging standard auto insurance market.
“Sigo provides affordable access via its direct-to-consumer platform that is tech-enabled, bilingual, and mobile-first. By helping customers with limited insurance histories get basic auto insurance, Sigo is better serving this segment of drivers by providing transparent and reliable coverage.”
Sigo’s executive leadership team (from left to right): Ivan Arambula (VP of Engineering); Randel Bennett (VP of Insurance); Néstor Hugo Solari (CEO); Júlio Erdos (COO)
Sigo, a Jersey City, NJ-based managing general agency providing underserved populations with access to auto insurance, raised $1.5M in seed funding.
Backers included Amicle Capital, Bonded Capital Ventures, Demeter Capital, Financial Solutions Lab, Park City Angels, and gANGELS.
The company intends to use the funds to continue to expand operations and the business reach of its auto insurance product for immigrant and Latinx customers.
Founded in 2019 by Latino entrepreneurs Néstor Hugo Solari and Júlio Erdos, Sigo is an inclusive auto insurance provider working via its direct-to-consumer platform that is tech-enabled, bilingual, and mobile-first.
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JERSEY CITY, N.J., April 27, 2021 /PRNewswire/ Sigo, a managing general agency providing underserved populations with affordable access to auto insurance, is leveraging its newly secured funding to further serve the overlooked segment of immigrant and Latinx customers. The $1.5M seed round, with participation from Amicle Capital, Bonded Capital Ventures, Demeter Capital, Financial Solutions Lab, Park City Angels, and gANGELS, will allow Sigo to launch an auto insurance product that removes biased rate factors from day one of the underwriting process.
Sigo s executive leadership team (from left to right): Ivan Arambula (VP of Engineering); Randel Bennett (VP of Insurance); Néstor Hugo Solari (CEO); Júlio Erdos (COO)
Agency Start-up Sigo Serving Latinx, Immigrant Drivers Raises $1 5M insurancejournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancejournal.com Daily Mail and Mail on Sunday newspapers.