180° Insurance raises $31.4 million

Brazilian insurance startup 180° Insurance has closed a $31.4 million Series A round led by 8VC. Dragoneer, Monashees, Atlantico, Quartz, and Norte participated in the round.

Founded in 2020, the startup operates through a B2B2C model, providing a solution for companies to sell insurance digitally. One example is partnering with parking app Zul+ to offer an on-demand insurance product that covers personal items left in cars parked on the street.

Since its founding, 180° Insurance has launched nine insurance products and services in eight different channels.

“It is tremendously exciting to be transforming the insurance industry in Brazil, using our technology to both identify market opportunities and to better meet the insurance needs of individuals.” – Founder and CEO of 180° Insurance Mauro Levi D’Ancona.

“We are very bullish on the insurance space in LatAm and the technology 180° is building. We have known Mauro since his time at NuBank and he is an extremely impressive entrepreneur. 8VC has been increasingly active in the region and we see Mauro and a key player in the technology ecosystem.” – 8VC founding partner Jake Medwell.

“Digital transformation is a necessary process that has been redesigning the insurance industry in recent years. It has always lagged a bit behind compared to the financial industry in Brazil, but with the digitalization forced by the pandemic, this has become an urgent and strategic agenda for insurers and also for new distribution channels that need to diversify their revenues.” – CIO and co-founder of 180° Insurance Alex Körner.