The round includes €5.5 million in fresh capital and a €2.5 million convertible loan from existing investors Nervo Group and Inveready.

This capital increase will enhance Insurama’s financial base and support its expansion in existing markets like Spain, Mexico, Portugal, Chile, and Peru, with plans to extend into Colombia and Central America soon.

CEO Antonio García-Lozano highlighted the investment as a milestone that reaffirms the company’s robustness in the diverse insurance market. Insurama reported historic 2023 earnings, with revenues doubling for the second consecutive year to €10 million. The new funds are aimed at establishing Insurama as a leading scale-up in the Iberian and Latin American insurance markets.

Since its inception in late 2018, Insurama has completed four financing rounds, totaling over €13 million in equity and nearly €7 million in debt.

The firm now manages 210,000 policies, supported by top insurers such as Helvetia and Axa Partners in Europe, and GNP in Latin America.