Chaiz Raises $3.7M Seed to Transform Extended Car Warranty Market
Chaiz Raises $3.7M Seed to Transform Extended Car Warranty Market
Chaiz is the first online marketplace for extended vehicle protection.
Chaiz, an Austin-based company, announced an oversubscribed $3.7 million seed funding round led by ResilienceVC, with participation from Anker Capital, Automotive Ventures, and several other investors. Co-founded by automotive and tech veterans Reto Bolliger, Ryan Hartman, and Philippe Koenig, Chaiz is a comparison marketplace for extended car warranties, focusing on transparency, choice, and digitization. With the average age of U.S. vehicles hitting 12.6 years and repair costs soaring, Chaiz aims to empower consumers by providing quick, hassle-free quotes without the need for intrusive data submissions, offering a refreshing alternative in a spam-ridden industry.
The new funding will allow Chaiz to expand its product offerings, covering not only vehicles but also RVs, motorsports, and home appliances, while saving customers 40% by eliminating middlemen. By providing consumers with affordable, reliable breakdown protection, Chaiz is well-positioned to disrupt the $40 billion vehicle service contract industry and offer financial relief to millions of Americans facing unexpected repair expenses.
Read more in the blog post by Chaiz.
CEO Reto Bolliger was featured in Founders Everywhere.