Pier is a Sao Paulo, Brazil-based full-stack insurance company founded in 2018 and led by co-founder and CEO Igor Mascarenhas. The company uses artificial intelligence to streamline insurance products and claims processing across mobile-phone and auto insurance. Pier built an early business in mobile phone insurance, acquiring roughly 15,000 customers and paying R$5.6 million in refunds to date, and at Carnival 2020 processed a claim in 38 seconds. In 2019 Pier began offering auto insurance, testing an MVP in Belo Horizonte and launching in São Paulo in January 2020. The company intends to use the Series A proceeds to expand its reach in the auto market and is preparing for a Series B in 2021. Pier targets a large opportunity in Brazil, where only about 30% of the auto fleet is insured.

Total raised

$15M

Funding rounds

1

Latest round

Series A

Latest activity

Nov 2020