Qover, a Brussels-based embedded insurance platform, has secured €10 million in growth financing from CIBC Innovation Banking. The funding will support Qover’s continued expansion and growth across Europe.
Qover orchestrates embedded insurance for businesses and insurers through a flexible, API-first technology platform that gives distribution partners greater control over their insurance programs. The company’s model allows brands to offer insurance products to their customers as a seamlessly integrated part of their own experience, removing the complexity traditionally associated with insurance distribution.
CIBC Innovation Banking operates out of 14 global locations and has assisted more than 700 venture and private equity-backed businesses over the past eight years, managing over $11 billion in funds across technology, life sciences, healthcare, and cleantech.
KEY QUOTES:
“Insurance is complex, but it doesn’t have to be, and we’re proving that every day with our partners. CIBC Innovation Banking’s support lets us double down on building the platform and services that make embedded insurance actually work at scale, helping more businesses succeed across Europe.”
Quentin Colmant, CEO and Co-Founder, Qover
“We are delighted to be funding Qover as it continues on its impressive growth trajectory. In a fast moving world, embedded insurance is becoming an increasingly important offering, both to leading brands and to their customers.”
Sean Duffy, Managing Director of UK and Europe, CIBC Innovation Banking
