Sigo Seguros raised $10.5 million in Series A funding to provide inclusive auto insurance solutions for Hispanic and Latino communities, addressing significant barriers in the traditional auto insurance market.

Target Information

Sigo Seguros is an innovative auto insurance provider focused on delivering comprehensive insurance solutions to Hispanic and Latino communities in the United States. The company’s mission is to address the often overwhelming barriers these groups face in securing standard auto insurance policies, which frequently leads them to seek services from broker-run agencies that impose high and unclear fees. By offering a fully bilingual digital platform, Sigo aims to simplify the process of acquiring insurance for Spanish-speaking drivers.

Based in Austin, Texas, Sigo operates as a managing general agent (MGA) and uniquely underwrites insurance without asking customers for their credit scores, education backgrounds, or employment histories. This inclusive approach allows the company to offer affordable and transparent pricing, saving clients hundreds of dollars annually while still maintaining healthy profit margins.

Industry Overview

The auto insurance industry has traditionally overlooked non-standard policies, which makes up approximately 30% to 40% of the market. In the context of the U.S. auto insurance market, many