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Qover has raised $87.1M across 6 funding rounds.
Key people at Qover.
Qover has raised $87.1M in total across 6 funding rounds.
Qover is a managed tech platform that provides embedded insurance solutions, allowing businesses to easily integrate insurance into their services.
Key people at Qover.
Qover has raised $87.1M across 6 funding rounds. Most recently, it raised $30.0M Series C in July 2023.
Qover is a Brussels-based insurtech company founded in 2016 that builds an API-first platform for embedded insurance, enabling businesses to integrate customizable insurance products like purchase protection, travel coverage, motor insurance, and mortgage protection into their digital experiences.[1][2][6] It serves disruptive tech players across fintech, gig economy, mobility, automotive, retail, and proptech sectors—such as Revolut, Deliveroo, Wolt, BMW, MINI, Cowboy, and BNP Paribas Cardif—solving the problem of fragmented, non-personalized insurance by offering seamless, pan-European orchestration including claims management, data analytics, and user experience design via a B2B2C model.[1][2][3][6] With over 250 employees, $69.9M in total funding (including a $25M round in 2021 led by Prime Ventures), and recent expansions like AI-powered claims and partnerships in Ireland, Qover demonstrates strong growth momentum in the embedded insurance space.[2][3][5]
Qover was co-founded in 2016 in Brussels, Belgium, by Quentin Colmant (current CEO) and a team leveraging expertise in technology and insurance to address the need for flexible, digital insurance integration amid the rise of the digital economy.[1][2][5] The idea emerged from recognizing how traditional insurance lagged behind tech platforms, prompting the creation of a tech stack for rapid product launches across Europe; early traction came from partnerships with neobanks like Revolut and gig platforms like Deliveroo and Wolt.[1] Pivotal moments include the 2021 $25M funding round with Prime Ventures and C.Entrepreneurs, plus a key collaboration with BNP Paribas Cardif for digital Mortgage Payment Protection Insurance (MPPI) using Open API tech, rolled out with partners like Keytrade Bank.[1][3]
Qover rides the embedded insurance trend, where coverage is woven into non-insurance apps (e.g., payments, deliveries, EVs), capitalizing on digital platforms' massive user bases amid rising demand for instant, contextual protection in gig, mobility, and fintech sectors.[1][2][6] Timing aligns with post-2021 insurtech maturation, regulatory support like FCA licensing, and AI advancements for claims, positioning it against competitors like Wefox and KASKO in a market projected to grow as 60%+ of insurance shifts embedded.[2] Favorable forces include Europe's fragmented insurance regs (solved by Qover's stack) and partners' scale (e.g., BMW Ireland launch in 2025), influencing the ecosystem by enabling incumbents' digital pivots and accelerating "insurance everywhere" for 250M+ users via platforms like Revolut.[1][2]
Qover is poised to dominate embedded insurance orchestration in Europe, with expansions into AI claims, premium auto (BMW/MINI), and GenAI integrations (e.g., bunq's Finn) signaling scalability toward global reach.[2][3] Trends like omnichannel personalization, regulatory harmonization, and climate-driven coverage (mobility/property) will propel growth, potentially via new funding or acquisitions to hit unicorn status. Its impartial platform could evolve influence by powering insurer-agnostic ecosystems, turning fragmented markets into seamless safety nets—reinforcing its role as the backbone for tech-driven protection at scale.[6]
Qover has raised $87.1M in total across 6 funding rounds.
Qover's investors include Alven, Anthemis, Kreos Capital, Zurich Global Ventures, Prime Ventures, Addition, Anthemis Group, Blossom Capital, Cowboy Ventures, Kima Ventures, La Famiglia, Mouro Capital.
