Global insurance technology company Cover Genius has raised £8.3m to extend its product suite and partner network worldwide.

Cover Genius was founded in 2014 by Angus McDonald and Chris Bayley to protect all customers of the world’s largest online companies.

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King River Capital led the latest funding round, which is supplemented by a loan from Leap Capital.

The funding round intends to support integrations with the companies engaged in technology and ecommerce space across South East Asia, India, the US and Europe.

The insurance technology firm launched its product and parcel insurance products on Shopee Thailand and integrated commercial, shipping as well as product insurance for six ecommerce platforms, including Tile and Wayfair.

McDonald said: “Our global partner network is rapidly growing and this recent raise will support the ongoing development of high volumes of strategic partnership deals, across a broad range of insurance lines, verticals and geographies.”

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In 2014, Cover Genius launched its full stack insurance distribution platform for mobility, retail, travel and shared-economy partners in Europe.

The company secured large partnerships including Booking Holdings, parent company of Booking.com, in 2016.

The partnerships see Cover Genius further expand its geographic reach and insurance capabilities, supported by licences across the world.

The company acquired licenses in 50 US states and 30 additional countries, with end-to-end customer journey available through an API in more than 40 languages.

Cover Genius’s smart suite of products protect several customers, distributed by the world’s largest ecommerce companies from a single call to its XCover API.