Sigo Seguros, a digital-first auto insurance serving Hispanic and Latine communities, has secured $10.5 million in Series A funding. Making Auto Insurance Easier and More Affordable Founded in 2019, Sigo specializes in non-standard auto insurance. Drivers in need of this insurance are often pushed to broker-run brick and mortar agencies, whic typically charge higher fees. Sigo offers a fully digital Spanish-language service that allows customers to obtain insurance in minutes through a mobile platform. “Immigrant and working-class communities struggle to buy auto insurance, whether it’s because of a lack of
Chicago-based TikTok star Jools Lebron, known for her “very demure,” “very mindful,” and “very cutesy” lingo that has taken social media by storm, is now facing a trademark battle. Others have rushed to trademark variations of her viral catchphrases before she could, but the Puerto Rican creator recently reassured fans that the matter is being “handled.” A not-so demure Trademark Battle Lebron was a store cashier before her sudden rise to internet fame. Shortly after her phrases went viral, several individuals filed trademark applications for variations of “very demure.” Jefferson
On Friday, Brazil’s top court ordered the immediate suspension of X—formerly Twitter—in the country following a months-long feud with owner Elon Musk. Now, rival platforms are benefiting. Bluesky Sees Surge in Sign-Ups Bluesky, which fully opened to the public in February 2023, is seeing massive surge in users, reportedly gained one million new users in just three days. The decentralized social app started off as a project by Twitter co-founder Jack Dorsey in 2019 when he was Twitter’s CEO. It has since become an independent public benefit corporation, with Twitter founder
Democrats are leveraging AI to strengthen their outreach to Latine and Black voters as the 2024 election looms, according to The Guardian. Facing a challenging electoral landscape, progressive organizations and Latine and Black-led Democratic groups are adopting novel AI-driven tools to connect with voters on platforms they frequent, such as Discord and WhatsApp. These efforts are particularly focused on younger voters, who are often harder to reach through traditional methods. AI-Powered Outreach: Engaging Voters Where They Are One tool being used is Vote-E, an AI-powered chatbot developed by NextGen America,
Meta, the tech giant formerly known as Facebook, is under scrutiny for using public Instagram posts to train its generative AI model without notifying users in Latin America, according to Rest of the World. The company’s decision has particularly impacted artists in the region, who rely heavily on social media to showcase their work but cannot opt out of this data usage. Lack of Notification and Opt-Out Options On June 2, many Latin American artists discovered that Meta had not informed them about its plans to use their public posts
Escala, a CRM platform for Hispanic small and medium-sized businesses (SMBs), has raised $12 million in its latest funding round. This milestone, led by IGNIA and Alaya Capital, marks a step in the company’s mission to empower Hispanic businesses in the United States and Latin America. High Alpha and other investors also participated in the round. Revolutionizing SMB Marketing and Sales Founded by renowned tech entrepreneur Andrés Moreno, also the founder of Open English, Escala offers a marketing and sales platform. The platform addresses critical challenges faced by Hispanic SMBs
Mexican fintech company OCN, which offers car rental models for gig workers in Mexico and the US, has successfully raised $86 million in equity and debt. The Series A funding round was led by Brazil’s Caravela Capital, with additional contributions from Collide Capital and Great North Ventures on the equity side, and New York-based i80 Group leading the debt portion. Innovative Solutions For Gig Workers Launched in 2022, OCN provides gig workers with new car rentals on a weekly fee basis, inclusive of maintenance and insurance. Users also have the
Caliza has secured $8.5 million funding. Founded in 2021 by Ezra Kebrab, the Brazil-based startup transforms cross-border transactions in Latin America through the use of crypto stablecoins. The company recently secured funding led by Initialized Capital, enabling them to expand their innovative payment solutions that leverage Circle’s USDC (USD Coin), according to TechCrunch. “Caliza is building global financial infrastructure that removes borders from commerce,” Kebrab wrote on LinkedIn. “I’m excited to unveil the latest including our recent $8.5M round.” Bringing Speed and Stability to Cross-Border Payments Unlike traditional transfers made
Venture capital (VC) investments in Latin America have reached unprecedented levels, outpacing several emerging US tech hubs, according to Revelo. This shift is driven by a growing talent pool and an increasing demand for services catering to the middle class. Revelo’s analysis, using data from the Latin American Venture Capital Association (LAVCA) and the National Venture Capital Association (NVCA), highlights how Latin America is becoming a significant player in the global VC landscape. Growth In Latin American VC Investments The Latin American venture capital market hit its second-highest level on
Latinas face the steepest drop in representation as they climb the corporate ladder, according to Lean In’s first-ever report on the state of Latinas in corporate America. Despite Latinas accounting for nearly 1 in 10 people in the US, they hold less than 1 in 20 entry-level corporate jobs and only 1 in 100 C-suite positions. Disparities in Advancement and Pay In 2023, white men’s representation increased by nearly two-thirds (64%) from entry-level to C-suite positions, while Latinas’ representation decreased by over three-quarters (78%). Latinas also experience the largest pay
