Backed by Ribbit Capital, Kaszek and Endeavor, the auto insurtech scales AI-powered tools for brokers and enters a new phase of sustainable growth

São Paulo, June 18, 2025 – In a market long dominated by legacy players, the rise of insurance challengers in Latin America is gaining momentum and Justos is leading the charge. The auto insurtech, known for rewarding responsible drivers, has just secured R$92 million (US$16.5 million) in growth capital, led by Ribbit Capital, with participation from Kaszek, Endeavor Catalyst and Scale-Up Ventures.
The funding comes at a pivotal moment for Justos: the company has graduated from Brazil’s regulatory sandbox and now has a fully licensed S3 insurer, authorized by SUSEP (Brazil’s insurance regulator). This move signals the maturity of a new generation of insurtechs, consolidating their place in the industry.

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“This investment validates our long-term vision: that it’s possible to scale responsibly, using data and technology to create a more transparent, fair and efficient insurance market,” says Dhaval Chadha, CEO and co-founder of Justos. “In contrast to many insurtechs, we’re not here to simply be a low-cost alternative. We’re building the best insurance experience for customers and brokers, one that puts people and innovation at the center.”

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The funds will be used to scale Justos’ AI strategy, particularly in tools that empower insurance brokers, a segment often underserved in digital transformations. Brokers remain a cornerstone of consumer trust in the insurance journey, and Justos sees them not as intermediaries but as strategic partners in building a better experience. From smart support bots to automated quoting and advanced automation tools  in the industry leading broker portal, the goal is to reduce friction and strengthen partnerships across the distribution chain.

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Justos has delivered consistent growth since its first year of operations. The company has doubled year over year while cutting its loss ratio by an average of six percentage points annually. With a high Net Promoter Score and growing loyalty among both customers and brokers, Justos has proven its model works.
“We’re part of a wave of challengers that are reshaping what insurance looks like in Latin America,” adds Chadha. “This round allows us to deepen our investment in AI and broker tools, scale our impact and expand our portfolio, always guided by transparency, simplicity and real value for users.”

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As part of its expansion strategy, Justos will continue to invest in AI to create frictionless experiences across the entire broker and user journeys, streamlining quoting, binding, onboarding, claims and roadside assistance. The company also maintains a strong commitment to transparency, offering clear contracts and real-time updates via its app and broker platform.
With this new milestone, Justos is accelerating toward its goal of becoming one of Brazil’s top 10 insurers — proof that in a complex and conservative industry, challengers can not only survive, but lead the way into an AI-native approach to insurance.

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About Justos

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Justos is an auto insurer that leverages artificial intelligence, technology and design to deliver a seamless insurance experience that rewards responsible drivers. With the goal of making roads safer, the company offers up to 30% off for drivers who perform well in a telematics-based assessment conducted directly through its app. Founded in 2020 by Indian Dhaval Chadha, Mexican Jorge Soto Moreno and Spaniard Antonio Molins, Justos operates nationwide in Brazil and, since March 2025, holds a full S3 license granted by SUSEP (Brazil’s insurance regulator), allowing it to operate as a fully authorized insurer. In 2025, Justos announced a R$92 million (US$16.5 million) funding round to accelerate its AI strategy and expand tools designed specifically for insurance brokers. The company is backed by top-tier investors including Ribbit Capital, Kaszek, Endeavor, SoftBank Latin America, SCOR, GGV and big_bets, as well as prominent unicorn founders such as David Vélez (Nubank), Carlos Garcia (Kavak), Fritz Lanman (Mindbody) and Assaf Wand (Hippo).

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