At Crivo, we are committed to identifying and supporting disruptive ventures that have the potential to transform industries. Zarv, a dynamic company, has caught our attention with its next-generation Self-Insurance SaaS Platform. This platform empowers rental, insurance, and loan companies to take control of their insurance operations, addressing challenges such as theft, robbery, assistance, fraud, and more. Our investment in Zarv is driven by the compelling reasons behind this decision.

The insurance industry, particularly in Brazil, faces significant challenges when it comes to combating car theft and optimizing financial operations. In Brazil alone, 53 cars are stolen every hour, with a majority never being recovered. This poses a substantial cost burden on insurance companies and impacts the overall prices of their products. In the second quarter of 2022, the six largest insurers in Brazil spent BRL 3.7 billion on car loss. Despite the presence of GPS technology, the existing processes remain inefficient, failing to adequately address the problem. Recognizing the immense potential in disrupting this market, we turned our attention to Zarv, whose platform offers a solution to these challenges. With a total addressable market (TAM) of $18 billion in Latin America, with Brazil accounting for 50%, Zarv holds significant growth potential.

Zarv's proprietary AI asset monitoring technology sets them apart in the market. By connecting public and private camera networks with GPS-enabled devices, they have created a powerful platform that allows companies to reduce their reliance on traditional insurance policies. This approach gives companies greater control and management of their insurance operations, introducing flexibility and efficiency. Unlike the current market leaders in claims and risk management, who offer partial solutions, Zarv takes a revolutionary approach. Their platform monitors all claims and operational data in real-time, enabling the automatic execution of the best flow for each unique situation. This bundling of suppliers and efficiency gains provide a compelling value proposition for clients.

A strong team is a crucial factor in the success of any venture, and Zarv boasts an exceptional team led by João Costa, a former YCombinator founder and a true serial entrepreneur. Costa's experience includes a successful exit with Chaordic in 2015. He has also co-founded Kovi, one of the top YCombinator companies by valuation in 2022. Kovi has emerged as the largest rental startup for Uber/Didi drivers in Latin America, with a valuation exceeding $500 million in its Series B round. João Costa's proven track record and entrepreneurial acumen inspire confidence in Zarv's ability to disrupt the insurance industry. In addition, João brings a team of C-level executives to the table, including Camila Lemos as Head of People, Melissa Pulice as Head of Legal, and Flávia Dupont as Head of Product.

In conclusion, our investment in Zarv reflects our commitment to supporting disruptive ventures that have the potential to reshape industries. The combination of an exceptional team, an inefficient claims process, soaring car theft rates, and a market ready for disruption make Zarv a compelling investment opportunity. With its pilot results demonstrating success, Zarv stands as a catalyst for change in the insurance landscape. We firmly believe in Zarv's potential and are excited to be part of its journey as it reshapes the insurance industry