The deal is the sixth and largest from Redpoint Ventures and e.ventures’ joint fund, which closed on $130m in July.
The pair began operating independently in the region in 2009 before teaming up this year to build a locally-based team under the Redpoint e.ventures brand.
Minuto Seguros said it would use the Series A investment to accelerate growth by expanding product development and marketing efforts and scale the company’s technology infrastructure.
Redpoint e.ventures co-founder and managing director Yann de Vries said, “The experience, credibility and connections of Minuto Seguros are unmatched in the industry.
“After much time spent looking into this market, we are convinced that they have the vision and capabilities to build an amazing company and redefine this space.
“This is our biggest investment to date and we are proud to be working with this outstanding team on this exciting journey”
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