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April 28, 2021

Insurtech Qover secures $25m investment to fuel global expansion

Belgian insurtech start-up Qover has raised $25m in a Series B funding round led by Prime Ventures and backed by Cathay Innovation.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
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  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
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Existing investors Anthemis and Alven also joined the round, which takes the total capital raised by Qover so far to $43m.

The company intends to use the fresh infusion to speed up its development in Europe as well as in the global market. It will focus on hiring business development and marketing staff in a bid to accelerate customer acquisition and sales.

Qover CEO and co-founder Quentin Colmant said: “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.”

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

It provides insurance solutions in real-time through APIs or white labelling that enables easy integration with its partners’ digital platforms.

The firm’s client list includes Deliveroo, Revolut, Wolt, Decathlon, Cowboy and Immoweb.

Prime Ventures principal Margaret Perchik said: “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.”

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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