Gringo, the cutting-edge super app designed for Brazilian drivers, is making waves in the automotive and insurance industries by offering a convenient and all-encompassing platform for managing car-related tasks. With a whopping 75 million drivers in Brazil, the app aims to streamline the experience by consolidating everything from documentation management to insurance and financing options.
Key Takeaway
Gringo’s super app for Brazilian drivers has secured $30 million in Series C funding, enabling the company to enhance its automotive credit and insurance offerings. With a focus on simplifying the driver experience, Gringo’s all-in-one platform consolidates services such as license renewals, document management, insurance options, and financing choices. By leveraging data and empowering drivers, Gringo aims to become the ultimate resource for all automotive needs in Brazil.
Expanding Services with Impressive Funding
Building upon its previous successes, Gringo has recently secured $30 million in Series C funding, adding to the $8 million raised in 2021 and $35 million raised in 2022. This latest round brings the total funding for Gringo, founded by Rodrigo Colmonero, Caique Carvalho, and Juliano Dutra, to an impressive $80 million. With this influx of capital, the company is poised to expand its automotive credit and insurance products and introduce exciting new features.
The Driver’s Best Friend
One of Gringo’s main objectives is to be the driver’s ultimate companion, providing a wide range of services conveniently accessible through their app. Already assisting drivers in renewing licenses and managing documents, Gringo is now focusing on offering insurance options from various companies and presenting the best offers from banks in Brazil. By empowering drivers to make informed decisions, Gringo aims to become the go-to resource for all their automotive needs.
Major Investments and Continued Growth
The Series C funding was led by Valor Capital, with participation from several existing investors, including Kaszek, VEF, Piton, ONE VC, ICU Ventures, and Actyus. With an expanding customer base of 10 million users, Gringo aims to double its revenue from the previous year by the end of this year. The company’s success can be attributed to Brazil’s thriving used car market, which sees over 10 million cars bought and sold annually. Gringo plans to leverage its vast data on customer vehicles to simplify the buying and selling process, ensuring drivers make the best choices.
