InsurTech Qover, which builds the API-first global insurance solution for the new economy, has raised €20M with Prime Ventures as lead investor, backed by Cathay Innovation. Existing investors Anthemis and Alven have also participated in the funding round. This new investment brings the company’s total investment to €35M.
The new funds will be used to accelerate the company’s development in Europe and worldwide. The focus will be on recruiting business development and marketing talent to speed up customer acquisition and sales.
“Digital-native players are increasingly looking to Qover to help them accelerate their growth and this is just the beginning. Our mission is to connect all the platforms to our fully embedded insurance solution. This new fund will boost our ability to respond to the needs of an exploding market and continue to innovate in providing seamless digital experiences”, stated Quentin Colmant, CEO and Co-founder of Qover.
“We have built a powerful Open-API platform and assembled the right team to leverage the high value of embedded insurance. Together we are bringing the much-needed innovation to the insurance space. Now is the time to accelerate our growth and expand our business opportunities globally. We are committed to empowering all digital platforms of the new economy”, explained Jean-Charles Velge, Co-founder of Qover.
As an international pioneer in the insurance industry, Qover designs, builds and distributes innovative digital insurance solutions to help fast-growing companies globally. Its insurance solutions are available in real-time through APIs or white labelling that can be easily and quickly integrated into its partners’ digital platforms. Qover’s long standing partners include renowned companies such as Deliveroo, Revolut, Wolt, Decathlon, Cowboy, Immoweb and many others.
In a nutshell
- InsurTech Qover closes Series B with €20M with two new international investors.
- The new funding round is led by Prime Ventures, supported by Cathay Innovation through C. Entrepreneurs, and followed by existing investors -Anthemis and Alven.
- More than 1M people are protected by Qover today through 32 European countries.
- 95% satisfaction score