What is Pier?
Pier is an insurance provider founded by Igor, Lucas, and Rafael, aiming to simplify the claims process for individuals experiencing difficult life events such as theft. The company distinguishes itself through rapid payouts and empathetic customer support, focusing on a human-centric, straightforward approach that eschews complex paperwork and lengthy waiting periods. This operational philosophy positions Pier as a modern alternative in the insurance market, emphasizing ease of use and client well-being.
How much funding has Pier raised?
Pier has raised a total of $42.1M across 3 funding rounds:
Other Financing Round
$7.6M
Series A
$14.5M
Unspecified
$20M
Other Financing Round (2019): $7.6M, investors not publicly disclosed
Series A (2020): $14.5M led by Mercado Livre, Monashees, BTG Pactual S.A, and Canary
Unspecified (2021): $20M supported by Raiz Investimentos
Key Investors in Pier
Monashees
Monashees Capital is a venture capital firm focused on Internet and Education, known for its long-term vision and engagement with innovative, high-growth businesses, particularly within the Brazilian market.
Mercado Livre
Mercado Livre is a prominent e-commerce and fintech platform in Latin America, suggesting a strategic interest in companies that can leverage digital infrastructure or enhance consumer services.
BTG Pactual S.A
BTG Pactual S.A is a major Brazilian investment bank, indicating a potential focus on financial services, fintech, or companies with significant growth potential within the financial sector.
What's next for Pier?
The recent major strategic investment into Pier signals a pivotal growth phase, likely enabling the company to scale its operations, enhance its technological infrastructure, and expand its market reach. This capital infusion is expected to fuel further innovation in its claims processing and customer service models, reinforcing its commitment to providing a simple, human, and straightforward insurance experience. Pier's focus on efficiency and customer care, supported by this latest financing, suggests a strategic push to capture a larger share of the insurtech market.
See full Pier company page
