Azos Secures US$25M Led by Kaszek to Expand Insurance Operations in Brazil

Azos has secured a US$25 million Series C round to strengthen its technology infrastructure and expand the use of artificial intelligence across its operations, reinforcing its position in Brazil’s insurance market.

Series C led by Kaszek and Kevin Efrusy

The round was led by Kaszek alongside Kevin Efrusy, an early investor in Facebook, and also marks the entry of Endeavor Catalyst into the company’s cap table.

The new funding comes less than a year after Azos raised US$34 million in its Series B, signaling continued investor confidence in the company’s growth trajectory and business model.

Focus on AI and technology development

According to the company, the fresh capital will be directed toward enhancing its technological capabilities and scaling the use of AI across key processes.

CEO and co-founder Rafael Cló emphasized that the round strengthens Azos’ ability to invest aggressively in innovation:

“We were already well-capitalized, and chose to expand our reserves to accelerate our push into Artificial Intelligence. In a moment of technological disruption, we are not just observing change—we are financing our adaptation to become a reference in this space within the insurance sector.”

Strong growth and expanding distribution network

In 2025, Azos more than doubled its revenue and surpassed US$20 billion in insured capital. The company also expanded its distribution network to over 11,000 partner brokers and established a presence in 24 cities across Brazil.

Since its last funding round, Azos has continued to scale its operations, with around 65% of claims paid within eight business days after receiving the final required document.

Scaling operations and improving efficiency

Looking ahead, Azos plans to increase its investments in engineering, technology, and product development by approximately 50%. Its strategy includes deepening the use of proprietary AI systems across underwriting, customer service, retention, and quality monitoring.

The company aims to grow its insured capital by an additional US$16 billion by the end of 2026, while reducing the average claims payout time to around five business days.

Investors double down on Azos

The Series C round also represents an increased stake from Kevin Efrusy, who previously invested in the company and co-led this round with Kaszek.

“Rafa and the Azos team show remarkable persistence. Modernizing a historically analog and highly regulated sector like insurance in Brazil requires proprietary technology and execution discipline, and Azos is doing just that, starting with life insurance,” said Efrusy.

Andy Young, partner at Kaszek, highlighted the company’s tech-first foundation:

“Azos was built as a tech-native company, positioning it to capture opportunities in the AI era within insurance. The team leverages proprietary technology not only for efficiency but to place the customer at the center of operations.”

Insurance market context in Brazil

Data from Brazil’s insurance regulator indicates that, in 2025, the damage and life insurance segments (excluding VGBL) grew by 7.82%, reaching approximately US$44.6 billion in total revenue.

Founded with a focus on individual life insurance, Azos offers policies with coverage of up to US$1 million without requiring medical exams during underwriting. Its AI-driven systems enable risk analysis and policy issuance in as little as 30 seconds or within one business day.

For Cló, the Series C reinforces the company’s long-term strategy:

“This round reaffirms investor confidence in Azos’ thesis. The capital will fuel the continued development of proprietary AI solutions that enhance operational efficiency and deliver value to both end customers and distribution partners.”