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Brazilian Auto InsurTech Justos Bags $5.5m In It’s Recent Funding Round

Things To Know About Justos

Justos is an insurance based industry founded in 2020 and headquartered in Sao Paulo. The company holds major specialties in the sectors of insurance for customers with appropriate terms and conditions.

As per the recent bulletins from Latam fintech, the reinsurer which lead over 90% the round preferred to stay anonymous. The remaining $500,000 of the capital came from MSR Capital, a manager from Israel.

As we the quotations given by Justos, its differential is to offer auto insurance with a more driver-friendly pricing to the automobile using customers. It uses ML to create models that can predict claims and, as a result, charges an individualized value for each driver. Overall this is a customised based software for generating individual client based reports and claims.

The following startup has monthly based insurance schemes. As per the record of driver drove during the month, they can get also avail discount on the next month payment as well.

 Justos has acquired thousands of customers and its claims ratio is slightly above the average of the top 10 incumbents in the region, but it faces challenges due to it’s premium claims.

What Are The Views Of Leading Members Of The Firm On This 

Dhaval Chadha, the CEO and co-founder of Justos, told “Brazil Journal that the new round is a “bridge of sorts”, and that the valuation will be set based on the startup’s next funding round. With the capital that is coming in, Justos will extend its runway to more than 30 months. According to Dhaval, the startup does not intend to reach breakeven before the end of this period. The idea is to continue investing in growth to raise a strong Series B, preferably without a downround.”

He also said that, “We’re at lower growth but much healthier than we had projected, and on a pretty comfortable runway.”

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