There are area of interest opportunities for numerous marketplace startups today, and prolonged warranties for vehicle owners is now certainly one of them. A living proof is Chaiz, a comparison marketplace for prolonged automobile warranties.
Chaiz announced it has $3.7 million committed in a seed funding round led by:
- ResilienceVC
- Anker Capital
- Automotive Ventures
- In all places Ventures
- FJ Labs
- Monte Carlo Capital
- Never Lift Ventures
- RedBlue Capital
- Springtime Ventures
Previous investors include In all places VC, InsurTech NY, The Calm Fund and Project One Auto, a nationwide auto dealership.
What’s the Chaiz marketplace?
Founded in 2021, Chaiz enables users to check and buy prolonged auto warranties from a wide range of providers online. The marketplace offers no-obligation quotes, easy comparisons, transparent pricing, and convenient shopping.
With the common age of vehicles on U.S. roads reaching 12.6 years and essentially the most common check engine light repair costing over $1,300, the necessity for reasonably priced, and reliable prolonged automobile warranties is big, the corporate says.
Chaiz empowers consumers to make informed decisions, potentially saving them significant amounts on repair costs.
With the brand new funding, Chaiz will proceed to focus on the breakdown protection space. It is going to also expand product coverage for other items for purchasers like RV, motorsports, and residential appliances, says Ryan Hartman, co-founder and chief marketing officer.
“Historically, this product has been marketed unethically with unnecessarily high prices. We’ve modified that,” Hartman says. “Using Chaiz, users can get transparent prices, research several providers, and buy online hassle-free once they find the proper plan for his or her vehicle and budget.”
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