Brazilian Insurtech Pier Raised $ 14.5 Million Through Series A Funding Round Led By Monashee | Instant News

Dock, a full stack company based in Brazil, announced earlier this week that it was raising $ 14.5 million through a Series A funding round, led by Monashee with participation from Canary, Mercado Livre, and BTG Pactual. Founded in 2018, Pier declared it adopting artificial intelligence to bring a unique experience to users, has attracted consumers by offering “the easy process and the fastest refund on the market”.

While sharing more details about the Pier platform, Igor Mascarenhas, Co-Founder and CEO of Pier, stated:

“We offer the best flow for buying auto insurance in the world. Nobody can approve a car insurance policy as quickly as we do, and in a simple way. In fact, there is no insurtech that is a reference in the whole world. We have developed very powerful technology and added very fine anti-fraud prediction capabilities. “

Speaking of investing, Marcelo Lima, partner at the Monashees, commented further:

“The insurance market is huge and presents several opportunities for innovation through the use of technology, whether in customer experience, product design, distribution or use of sensors. As in other financial segments, this market will be accelerating a lot. Pier has an excellent team and is very well positioned to lead this movement, offering great value to customers and being a giant company. “

Mascarenhas added that Series A funds will be used for companies to invest in the auto market.

We want to be in every Brazilian state in the first half of 2021. “

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