Qover, an insurtech company, has secured a $12 million growth capital facility from CIBC Innovation Banking as it marks its tenth anniversary.
The financing brings the company’s total funding to over $100 million and will support continued investment in its embedded insurance infrastructure as it scales across international markets.
What The Company Does
Founded in 2016 by Quentin Colmant and Jean-Charles Velge, Qover develops an orchestration platform that enables businesses to embed insurance products directly into their digital services. The company focuses on simplifying the integration, management, and delivery of insurance across multiple markets.
Its platform allows global brands to offer tailored, digital-first insurance solutions without managing the underlying complexity of regulatory compliance, claims handling, or cross-border operations. Qover currently provides embedded insurance programmes for companies such as Revolut, Mastercard, BMW, Monzo, bunq, Canyon, and Trust Travel (TUI), operating in more than 32 countries.
Through this model, the company supports both insurers and businesses in delivering scalable protection services that are integrated into existing customer journeys.
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Market Context / Industry Background
Embedded insurance has become a key segment within the broader insurtech landscape, driven by demand for seamless, digital customer experiences. Rather than purchasing standalone insurance products, consumers increasingly access coverage at the point of sale or within digital platforms.
This shift has created opportunities for infrastructure providers that can manage the operational and regulatory complexity behind these offerings. In Europe, where insurance markets are fragmented across jurisdictions, platforms capable of handling cross-border integration are particularly relevant.
Qover’s growth reflects wider adoption of embedded insurance models, particularly among fintech, mobility, and travel companies seeking to enhance customer value through integrated protection services.
Founder / Investor Commentary
Quentin Colmant, CEO and co-founder of Qover, reflected on the company’s trajectory, stating that the original goal was to make insurance simpler and more accessible across borders. He noted that over time, this vision has evolved into a scalable platform, adding that advancements in AI are expanding what the company can deliver.
He also outlined a longer-term objective, indicating that Qover aims to reach 100 million users by 2030 by building infrastructure that enables broader access to insurance globally.
Growth Plans / Use Of Funds
The $12 million growth facility will be used to further develop Qover’s orchestration platform, with a focus on enhancing its AI capabilities and strengthening operational infrastructure.
The company currently serves around 15 million users and plans to expand this figure to 55 million by the end of 2026, supported by a pipeline of new partner programmes. Continued investment will also support geographic expansion and deeper integration with enterprise partners.
Over the past four years, Qover has reported threefold revenue growth, with gross written premium exceeding $173 million, indicating increasing adoption of its platform across key sectors.
About Qover
Qover is an embedded insurance orchestration platform enabling companies to integrate and manage digital insurance products. Founded in 2016. Headquartered in Europe. The company provides infrastructure that allows businesses and insurers to deliver scalable, cross-border insurance solutions through technology-driven systems.
