Nilo Ventures made an undisclosed investment in Covela, a digital insurance broker for SMEs in Latin America.
(Medium) After Nilo’s investment in Keynua — an e-signature platform founded by the same team who built and sold Cinepapaya to Fandango — the fund has backed digital insurance broker, Covela (YCombinator S19).
Today, Covela is entering the rapidly growing Latin American economy as the first insurance robo-broker for the 25M SMEs in LatAm. Using a complex algorithm, Covela can effectively advise companies on the ideal coverage they need to fully safeguard their business. The technology used would allow SMEs to instantly compare prices and conditions, as well as enable the user to conveniently manage their policy, all seamlessly online.