Crabi raises $13.6 million
Mexican digital auto insurer Crabi raised $13.6 million in a Series A funding round co-led by Kaszek and Ignia, with participation from 30N, Redwood, Carao, Azuro and Newtopia. The startup previously disclosed ~$13 million in funding.
Launched in 2019, Crabi operates as a fully licensed insurance carrier, offering a digital experience through its platform and partners.
Based on our analysis from financial statements, Crabi had $13.2 million in written premiums in 2024 and a ~$2 million loss. The startup accumulated $11 million in losses since launching.
In Mexico, around 30% of personal vehicles are insured.
“At Crabi, we’ve proven that insurance can be scaled profitably when you put automation, AI, and customer experience at the heart of your operation. Applying modern engineering and data science to legacy insurance processes unlocks massive gains in pricing, speed, and risk selection. But none of that matters unless you’re also building the right infrastructure, aligning technology with regulation from day one. This new capital allows us to double down on both fronts, expanding access to affordable coverage while building a smarter, more inclusive insurance system for Mexico.” – Daniel Bernardez, CEO and Co-Founder of Crabi.
“Crabi is the most disciplined and well-positioned insurtech we’ve seen in Latin America. Their combination of proprietary infrastructure, regulatory edge, and scalable distribution puts them in a league of their own. We believe Crabi will set the standard for what modern insurance looks like across the region.” – Nicolás Berman, Partner at Kaszek Ventures.