Qover Series-B

This is the Qover pitch deck to raise a $25m series-b round in 2021.

About

As an international pioneer in the insurance industry, Qover designs, builds and distributes innovative digital insurance solutions across Europe to help fast-growing companies.

Its insurance solutions are available in real-time through APIs or white labelling that can be easily and quickly integrated into its partners’ digital platforms.

Qover’s solutions are diverse and suitable for every type of online business. Among the sectors in which the company is operating today are the gig economy, soft mobility, travel and PropTech.

Thanks to the digitisation of the entire value chain, Qover is able to launch tailor-made and competitive products in less than a month. For this purpose, Qover teams up with top insurance companies in order to offer the best coverage on the market at the most attractive price for its partners.

Qover is active in 32 countries and covers more than 1 million people across Europe. Its long-standing partners include renowned companies such as Revolut, Deliveroo, Wolt, Decathlon, Cowboy, Immoweb and many others.

Brussels-based insurance startup Qover has raised $25 million in fresh funding.

The Belgian firm, which was founded in 2016, offers insurance products that are used by the likes of the now-public Deliveroo and fintech unicorn Revolut. The company’s API is an example of embedded finance, a popular trend in European startups that allows its non-banking clients to offer financial services.

In the case of Qover, it enables companies to sell insurance such as travel cover or device protection to their customers as part of a package.

The Series B funding round was led by Prime Ventures with participation from Cathay Innovation.

“COVID-19 been an accelerator for the business and the digital insurance market,” Quentin Colmant, Qover CEO told Insider. “Our product has been growing and the Deliveroo IPO was very good for us, it’s not by chance that investors are interested and for the market the proof is in the pudding.”

The fresh capital will go towards tripling the company’s current 65-person headcount over the next 12 to 18 months as Qover looks to add new verticals to its offering.

“Some of our partners want to expand to new countries so we are starting to think beyond Europe,” Colmant added. “We are growing fast but with more fundraising we can grow faster.”

Existing investors Anthemis and Alven also participated in the funding round bringing the company’s total investment to $43 million overall.

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