Swiss insurtech Poncho just secured CHF550k in seed funding. The round was led by WeBuild Ventures. The Morges-based startup launched its parametric weather insurance product on November 21st in Switzerland and has already partnered with five selected businesses to integrate its product in their booking processes.
Poncho is redefining how travel and leisure businesses manage weather uncertainty with innovative parametric weather insurance solutions, as weather patterns become increasingly disrupted. With CHF 550,000 in seed funding, Poncho is set to revolutionize the industry by helping businesses de-risk their weather dependency and enhance customer confidence in booking, rain or shine.
Poncho’s product allows customers to seamlessly add weather protection at the time of booking, enabling businesses to avoid last-minute cancellations caused by bad weather and encouraging advance bookings—ultimately boosting sales and improving operational stability.
What sets Poncho apart is its seamless experience for both businesses and end customers. Using a proprietary system, Poncho crafts weather insurance offers live during the booking process, tailoring coverage and pricing to the specific location, date, and activity. Its technology monitors weather conditions in real-time using high-resolution models, and automatically issues refunds when predefined weather conditions are exceeded—with customers having no insurance claim to file.
These automatic refunds empower customers to either rebook their trip or activity or enjoy other indoor activities like a spa day or fine dining “for free”. The result? Increased customer satisfaction, loyalty, and memorable travel experiences despite unfavourable weather conditions.
“This funding is a significant step forward in our journey to make weather insurance accessible and straightforward for everyone. We’re excited to partner with our investors to bring Poncho’s vision to life and expand our footprint across the Swiss travel and leisure landscape.”, said Omar Jerrari, Founder & CEO of Poncho.
“We believe Poncho is solving a real and growing pain point in the travel and leisure industries. Their innovative approach to weather insurance has the potential to create immense value for businesses and customers alike”, said Nicolas Lagreze, Managing Director at WeBuild Ventures.
(PR)
(PR)
0Comments
More news about
The new Swiss Venture Capital Report was published on 26 January. It analyses 304 financing rounds closed in 2020 and includes further article such as an interview with Michael Hengartner, President of the ETH Board, and a list of Swiss "soonicorns". 
Please login or sign up to comment.
Commenting guidelines