The round was led by Prime Ventures and saw participation from Cathay Innovation as well as existing investors Anthemis and Alven. To date, the company has raised $43 million.
“Insurance is an exciting and massive market but one that is traditional and slow to innovate. Qover has built up a technology stack that allows them to launch and embed almost any insurance product and offer it across borders quickly and reliably, making them a trusted partner to both the digital economy and incumbent insurers,” comments Prime Ventures principal Margaret Perchik. “The business has seen phenomenal growth over the past year, signing landmark customers across a number of high growth verticals.”
Founded in 2016 by Jean-Charles Velge and Quentin Colmant, Qover provides insurance solutions that assist fast-growing companies on a global scale. They provide their own real-time API, or also offer a white label solution that is reportedly quick and easy to integrate on partner platforms.
The company currently counts Deliveroo, Revolut, Wolt, and Immoweb amongst its client base. It would appear that Qover is seeking to up these numbers as the funding is earmarked specifically for the recruitment of business development and marketing talent, both aimed at 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,” adds CEO Quentin Colmant.
Source: Tech EU
