Mexican insurtech Crabi raises $13.6 million in funding

By Isha Marathe

June 6 - (The Insurer) - Mexico City-based auto insurance platform Crabi has raised $13.6 million in funding in a Series A round led by Kaszek and Ignia, with participation from 30N Ventures, Redwood Ventures, Carao Ventures, Azuro Capital, Newtopia VC and other investors.

With this funding, Crabi plans to onboard more distribution partners into its growing network, ramp up investment in AI-driven operations and underwriting solutions, and work to close the protection gap for drivers who are not able to access the formal insurance market.

Crabi describes itself as the first licensed auto insurer in Mexico in over 25 years. It combines proprietary underwriting models, AI-powered operations and end-to-end infrastructure.

"Applying modern engineering and data science to legacy insurance processes unlocks massive gains in pricing, speed, and risk selection," said Daniel Bernardez, CEO and co-founder of Crabi.

"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."