// startup autopsy
Pier
Brazilian insurtech raised 35 million dollars to reinvent car and phone insurance with a peer-to-peer model but regulatory constraints made the core proposition impossible to execute at scale.
regulationSlow Death
Years-long decline before final shutdown · Fatal mistake: Regulation
Key Events Timeline
FOUNDING
Pier founded
FOUNDING
Pier founded in Sao Paulo to build peer-to-peer auto and device insurance for Brazilian consumers.
DOWN ROUND
Down round or bridge financing
FUNDING
Raised 35 million dollars total across multiple rounds from Greenoaks Capital, Monashees and others to scale the P2P insurance model.
PIVOT
Pivoted from pure P2P model toward hybrid digital insurance after SUSEP rejected key regulatory applications; repositioned as digital broker.
SHUTDOWN
Silent Shutdown: Pier ceases operations
SHUTDOWN
Pier ceased operations after exhausting capital reserves; policyholders were migrated to partner insurers and the team disbanded.