NXTP Labs participates in investment round of startup 123 Seguro for $3M for its expansion in LATAM
123 Seguro, online insurance seller leader in Argetina, announces officially that has closed its first investment round for U$S 3M, with the participation of NXTP Labs, Mercado Libre (NASDAQ:MELI) through its fund MeLi Fund and Alaya Capital, among others.
In this new stage, the investment will be focused on a major growth of 123 Seguro among massive segments and new markets. The main pillars of the expansion plan are oriented in deepening the agility of hiring through technological solutions, centering the processes of user digital experience and providing an excelent service quality throughout all the “customer cicle-of- life”. Thus, the injection of capital will have an impact on talent, technology and communication.
“The closing of this round of investment will accelerate our strategic plan to lead the insurance market of LATAM. We are consolidated in Argentina and growing strong in Colombia for more than a year now. It’s the ideal context to have an impact on the insurance industry, that still has a pending debt with the customer and the use of technology to make a better experience. We are the first online insurance broker, pioneers in this model and we are working on making a projection as market insurance leaders in Latin America”, informed Martín Ferrari, co-founder and CEO of 123 Seguro.
“Being a part of this investment round means for NXTP Labs to keep on contributing to the goal of our fund, which is to invest in the best companies of the region, the ones with interdisciplinary teams, committed a hundred per cent and with a global insight. 123 Seguro matches all these requirements and also belongs to one of the industries with highest growth potential of the region: Fintech/Insurtech. Now is the time where the startup can focus in reaching scalability based on knowledge and regional development and we have a lot to contribute to them in this stage”, said Marta Cruz. NXTP Labs’ co-founder.