Insurtech Qover closes Series C at $30m

Insurtech Qover has closed a $30 million Series C up-round funding, just a few days after announcing a partnership with Monzo.

The insurtech will use the proceeds to fund its expansion, as well as for technology development and to facilitate strategic partnerships.

Alven, Anthemis, Kreos Capital and Zurich Global Ventures are among those that participated in the Series C up-round funding.

“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,” said Quentin Colmant, chief executive officer and co-founder of Qover.

“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.”

The investment follows news of its latest partnership, with UK-based digital bank Monzo.

Through the partnership, Monzo Premium account holders in the UK will have access to a tailored travel insurance solution provided by Qover, and will have a new way to submit and track claims within the Monzo app.

The integration uses Qover’s embedded insurance orchestration platform and is underwritten by multi-line insurer Zurich.

Colmant added: “Our partnership with Monzo allows us to leverage their technology and customer-centric approach to deliver innovative insurance solutions that meet the evolving needs of their users.

“We look forward to working together to continue pushing the boundaries of what’s possible in the fintech industry.”