PR Newswire
New funding will fuel expansion of distribution network plus AI-powered solutions amid 2X + YoY growth and 20x scale-up in run rate
Crabi, the leading full-stack auto insurance platform built to make coverage simpler, smarter, and more accessible, announced it has raised $13.6 million in new funding. The round was led by Kaszek and IGNIA, with participation from 30N Ventures, Redwood Ventures, Carao Ventures, Azuro Capital, Newtopia VC, and other investors.
This funding marks a new milestone in Crabi’s mission to redefine how Mexicans protect their vehicles, combining cutting-edge technology with a disciplined operating model to close the country’s longstanding insurance gap and bring coverage to millions nationwide.
Despite being one of the largest automotive markets in Latin America, over 70% of vehicles in Mexico are uninsured. Traditional insurance options have remained expensive, outdated, and difficult to access for decades. Crabi is the first tech-native insurance company in over 25 years to receive regulatory approval in Mexico, paving the way for a new generation of digital insurers. Crabi tackles the gap head-on by offering real-time, mobile-first insurance experiences. Delivering instant policy issuance, automated claims support, and transparent pricing, making car insurance finally accessible to millions of drivers.
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Over the past three years, Crabi has achieved 2x+ year-over-year growth, dramatically improved its loss ratio and operating efficiency, and scaled its run rate by more than 20x — all while maintaining a lean, technology-driven operation.
“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,” said Daniel Bernardez, CEO and Co-Founder of Crabi. “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,” added Bernardez.
Crabi has already built strong partnerships with car dealerships, vehicle financing platforms, leasing companies, and brokers. By deeply integrating into their workflows and leveraging customer data to drive smarter underwriting, Crabi reduces risk while improving operational speed, benefiting both partners and end customers.
“Crabi is the most disciplined and well-positioned insurtech we’ve seen in Latin America,” said Nicolás Berman, Partner at Kaszek Ventures. “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.”
With this funding, Crabi plans to onboard more distribution partners into its growing network, invest further into AI-driven operations and underwriting solutions, and continue closing the protection gap for the millions of drivers who have historically been excluded from the formal insurance market.
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