Chilean Insurtech Jooycar Raises $700,000 By means of HCS Capital For U.S. Enlargement Plans

Jooycar, a Chilean insurtech that’s searching for to disrupt the auto insurance coverage and telematics area in Latin America, has reportedly secured $700,000 by means of HCS Capital because it plans to proceed growth to the U.S. efforts. The corporate introduced its U.S. growth plans again in December 2019.

As beforehand reported, Jooycar described itself as the primary linked automotive platform to launch in Latin America. The corporate claimed its telematics-based know-how leverages real-time large knowledge sourced from automobiles and drivers to ship enhanced end-user companies (B2C) and create new enterprise alternatives for the insurance coverage and automotive industries (B2B). 

“With Jooycar linked automotive service, our shoppers obtain a telematic {hardware} machine (whereas the automobiles nonetheless don’t have this {hardware} embedded) and an account that gives customers with entry to their linked automotive companies by means of an internet portal and a cellular app.”

Jooycar beforehand raised $200,000 with Magma Companions in 2017. Adopted by a $three million funding spherical led by HCS Capital Companions in October of 2018. María Paz Gillet, Founding father of Jooycar, said on the time:

“We selected HCS Capital over different buyers attributable to their hands-on expertise in InsurTech digital platforms. They’re a strategic companion with the need, business data and assets to actively assist the globalization of our firm.”

Jooycar is planning to launch its companies within the U.S. later this yr.