The archive · Money & Fintech · Product decision · 2021-2025
Momento Seguros bets digital auto insurance wins Mexico's underinsured; $10M Series A
Mexico's first fully-digital auto insurer (YC W22) grew active policies 3x in 2025 on in-house AI risk models and a 4.9/5 app, then raised a $10.25M Series A.
Momento Seguros
What the business is
Mexico's first fully-digital auto insurance carrier: vehicle and motorcycle policies priced by proprietary AI risk models, sold through an app plus 450+ agents and brokers.
Starting capital：$10.25M Series A (closed Aug-Sep 2025) led by Hedosophia and American Family Ventures, with Foundation Capital, Wollef and Y Combinator - one of only two insurance rounds in Mexico in 2025.
How it started
Three ex-McKinsey and ex-P&G founders (Lois Rogel Vence, León Bartolomé Carreño, Andrés Guerrero Álvarez) launched Momento in Mexico City in 2021 to attack the $13B opportunity of 30M+ uninsured vehicles, targeting outdated underwriting models and payment terms built for the affluent. They joined YC's Winter 2022 batch and secured the fastest license approval on record to become a fully-licensed carrier.
What happened
By August 2025 Momento had passed 10,000 active customers, partnered with 450+ agents and brokers, and built what it calls Mexico's #1-rated insurance app (4.9/5). It closed a $10.25M Series A led by Hedosophia and American Family Ventures with Foundation Capital, Wollef and YC - one of only two insurance rounds in Mexico in 2025. During 2025 the active policy base grew double-digit month-over-month and ~3x overall; loss ratios stayed below the industry average thanks to proprietary AI risk models, and the motorcycle product grew more than 2x month-over-month in H2.
No ending yet — it is still running.
Background
Momento Seguros is a Mexico City insurtech founded in 2021 by three ex-McKinsey and ex-P&G founders who moved to Mexico specifically to take on one of the country's largest, most regulated industries: auto insurance. It is Mexico's first fully-digital insurance carrier, underwriting vehicle and motorcycle policies with proprietary AI risk models and selling through a 4.9/5-rated app plus a network of agents and brokers.
The founding bet was that 30M+ uninsured vehicles in Mexico - roughly 70% of the car fleet and 88-90% of motorcycles - represented a $13B untapped opportunity, and that the reason people didn't buy was not just price but outdated underwriting and payment terms built for the affluent. Momento obtained a full carrier license - the fastest approval on record, by its account - so it could own pricing instead of reselling other insurers' products.
By August 2025 Momento had surpassed 10,000 active customers, partnered with 450+ agents and brokers and claimed Mexico's #1-rated insurance app. It then closed a $10.25M Series A led by Hedosophia and American Family Ventures with Foundation Capital, Wollef and Y Combinator - one of only two insurance rounds in Mexico in 2025. Active policies grew double-digit month-over-month and roughly 3x during 2025, with loss ratios below industry average attributed to the in-house risk models.
The motorcycle line is the clearest signal of the strategy: only 10-12% of Mexican bikes carry insurance even though the registered fleet nearly quadrupled from 2014 to 2024, and Momento's moto product grew more than 2x month-over-month in the second half of 2025. By December 2025 the company operated in 10 states with a claims network covering all 32.
What has to be true
- Owning the license and underwriting lets Momento price risks traditional insurers ignore - theft, broken glass, pothole damage - instead of reselling a competitor's policy.
- The motorcycle wedge is a market where demand is visibly growing (fleet up ~4x in a decade) and coverage is ~11%, so adoption can compound without stealing share from incumbents.
- A fully-digital purchase and adjustable deductibles, coverage levels and terms attack the stated barriers - paperwork, archaic agent portals, rigid products - rather than just the price.
- YC W22 plus Hedosophia, American Family Ventures and Foundation Capital gave a heavily regulated category legitimacy while the company built out its 10-state footprint.
What can be applied
Sell to the risk incumbents underprice: Momento built proprietary AI models for theft and breakage claims and attacked motorcycles, where coverage is ~11% and the fleet is growing fast.
Aftermath
As of December 2025 Momento Seguros is scaling in Mexico with 10,000+ active customers, 450+ agents and brokers, a 10-state footprint and a claims network (adjusters, workshops, tow trucks) covering all 32 states. The Series A from Hedosophia, American Family Ventures, Foundation Capital, Wollef and Y Combinator funds expansion and data-product work; policies grew ~3x over 2025 and the motorcycle book more than 2x a month in H2. The bet is that an app-first, AI-priced insurer keeps compounding where only ~30% of cars are insured.
Sources
- Mexico-Based Auto Insurer Momento Seguros Raises $10M Series A
- La insurtech mexicana Momento Seguros anuncia un 2025 de crecimiento récord
spotted an error? The archive wants to know.
Your turn
You just read one. Describe what you are building, and see who is betting on the same thing.
Free account · 3 free questions · no card