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Zurich-based insurtech startup Poncho has raised CHF 550,000 in seed funding led by WeBuild Ventures. The investment coincides with the official launch of the company's parametric weather insurance product, which is already being integrated into the booking processes of five selected travel and leisure businesses across Switzerland.
Founded in 2023, Poncho aims to revolutionize how the travel and hospitality industries handle weather uncertainty. As climate change continues to disrupt weather patterns, the company's solution enables businesses to "de-risk" their weather dependency while enhancing customer confidence in booking activities regardless of forecast conditions.
Poncho's technology integrates directly with booking systems, allowing customers to add weather protection during checkout. The proprietary system generates tailored insurance offers in real-time, with coverage and pricing specific to the location, date, and activity.
Using high-resolution weather models, the platform monitors conditions continuously. When predefined weather thresholds are exceeded, refunds are processed automatically—eliminating the need for customers to file insurance claims.
"After months of hard work, we are thrilled to announce that Poncho's weather insurance solution is finally available," said Omar Jerrari, Founder and CEO of Poncho. "This funding is a significant step forward in our journey to make weather insurance accessible and straightforward for everyone."
For travel and leisure businesses, Poncho addresses a critical challenge: weather unpredictability that leads to last-minute cancellations. By offering weather protection, companies can encourage advance bookings, ultimately boosting sales and improving operational stability.
Travelers benefit from peace of mind when booking outdoor activities. Whether facing a rained-out Alpine ski trip or rough seas during a Mediterranean yacht adventure, customers receive automatic refunds that enable them to rebook or enjoy alternative experiences.
With its seed funding, Poncho's lean team of three plans to refine its platform, scale operations across Europe, and build partnerships with insurers. The company also aims to develop additional features, such as weather-triggered promotions.
While initially focused on the travel sector, Poncho's vision extends to other weather-dependent industries, including outdoor dining and events.
Nicolas Lagreze, Managing Director at WeBuild Ventures, expressed confidence in Poncho's potential: "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."
As weather patterns become increasingly unpredictable, Poncho's solution offers a timely opportunity for businesses to mitigate risks while enhancing the customer experience—rain or shine.