Belgium-based Qover raises €27.6M for its API-first insurance solutions

Brussels-based Qover, an insurtech startup that builds API-first insurance solutions, announced on Thursday that it has secured $30M (approximately €27.61M) in a Series C up-round of funding. 

The investment came from a diverse group of investors that also includes Alven, Anthemis, Kreos Capital and Zurich Global Ventures.

Quover says that because its platform can easily interface with any insurer or broker, it promotes fruitful partnerships with significant companies.

Businesses such as Revolut, Qonto, Monzo, ING, Monese, Fisker, Nio, Volta Trucks, Niu and Lucid have selected Qover as their embedded insurance orchestration platform.

Insurance for the digital revolution

Founded in 2016 by Jean-Charles Velge and Quentin Colmant, Qover designs, builds, and distributes digital insurance solutions globally to help fast-growing companies.

“Through embedded insurance, we hope to create a global safety net that protects everyone, everywhere,” says Qover.

The company offers multiple types of insurance for rent guarantee, travel, rider liability, accident, and more. It features digital insurance infrastructure for offering insurance quotes and contracts through insurance API. 

Users can access their own dashboard, manage portfolios, and monitor statistics.

Capital utilisation

Qover says that the money will help accelerate its growth trajectory, enable it to continue putting together innovative solutions, start even more strategic collaborations, and get it one step closer to becoming profitable.

Colmant says, “We are thrilled to announce the completion of our Series C funding round, which brings us one step closer to achieving our growth and profitability goals.”

“Our commitment to transforming insurance experiences has been unwavering. Our ability to navigate and quickly adapt to the changing tech landscape has been instrumental in attracting top-tier clients and investors.”

“We are incredibly proud of what our team has accomplished. With their resilience as our driving force, we’re excited about the opportunities that lie ahead as we continue to push boundaries and shape the future of insurance,” adds Colmant.