By: Jonathan Shieber
With roughly one million customers across Brazil and a new round of financing, the mobile phone insurance provider Pitzi now finds itself with a $100 million valuation.
The size of its latest round, which was led by QED Investors and included commitments from existing investors like Thrive Capital and Valiant Partners, was undisclosed.
PItzi acts as a reseller for insurance companies to offer products around mobile phone insurance across Brazil. Founded in 2012, the company’s mobile handset insurance offerings were a service that was in the right place at the right time, as low cost handsets caused the market in Latin America’s most populous country to explode.