Mundi Ventures raises €25M for LATAM-focused insurtech

The Agencia Española de Cooperación Internacional para el Desarrollo (AECID), will invest €25M euros in the management firm Mundi Ventures, with the agreement that it will be allocated to insurtech startups and in adjacent sectors that have an impact on the improvement and digitalization of the insurance sector.

AECID is the main management body of the Cooperación Española and is oriented towards the fight against poverty and sustainable development.

FONPRODE has approved this investment to contribute to sustainable development and the fight against poverty in Latin America, a priority region for the Cooperación Española and a region where Mundi Ventures already has investments and investors.

This operation will also result in the continued internationalization of Mundi Ventures, which invests across Europe, the United States, Asia, and Latin America.

Mundi Ventures has demonstrated its commitment to impactful investments in key sectors, such as investments in Submer in Europe and Raincoat in Latin America, focused on the climate sector. Similarly, it has supported socially impactful health-oriented companies like Cuideo in Spain and Sami in Brazil, focused on improving health outcomes. The management firm has backed over 60 companies in total, and in Latin America, where the support of the Cooperación Española is focused, Mundi Ventures has already invested in companies such as Betterfly, which now covers over one million lives with life insurance through a wellness solution, Olé Life, focused on the life insurance market, and Sami, which provides technologically-supported health insurance aimed at populations not yet covered by other insurance products.

Mundi Ventures invests globally. In Europe, where populations are older, the mission has been to improve existing technologies and enhance more advanced ones, contributing to longevity. In Latin America, where many populations are underserved by health insurance, the primary focus has been on promoting inclusion and protection in order to close the protection gap. This partnership between the Cooperación Española and Mundi Ventures reflects the vital role of financial cooperation in achieving sustainable development goals.