Raincoat

Brazilfintech

Raincoat is a Puerto Rico-based insurtech that provides insurance solutions for weather-related disasters, addressing the lack of accessible climate risk coverage in Latin America. The company offers parametric insurance products that automatically trigger payouts based on predefined weather events, such as hurricanes or floods, enabling faster claims processing. Its target customers include individuals and businesses in Latin America exposed to natural disasters. Raincoat raised a $4.5 million seed round led by Anthemis, with participation from SoftBank Group's SB Opportunity Fund, to expand its operations in the region.