The Belgian insurtech plans to use the funds to support expansion, strategic alliances and the development of its technology.
Alven, Anthemis, Kreos Capital and Zurich Global Ventures were among the investors who joined the fundraise.
Set up in 2016, Qover was co-founded by Quentin Colmant and Jean-Charles Velge.
It allows companies to embed insurance as a native component of or add-on to their core offering.
The insurtech’s client list includes Fisker, ING, Monzo, and Revolut, among others.
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Colmant stated: “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.”
Last month, Qover partnered with UK challenger bank Revolut to offer embedded insurance for its trip and event cancellation plan.
Revolut customers in more than 30 countries in the European Economic Area (EEA) can avail the cover.
In April 2021, Qover garnered $25m in a Series B financing round led by Prime Ventures. The round was supported by Cathay Innovation and also saw the participation of Anthemis and Alven.