Belgian insurtech Qover secures €8m funding for expansion

Belgian insurtech Qover has secured €8 million investment from Alven, Portag3 Ventures, and Series A investor Anthemis to accelerate its European development.

Founded in 2016 by Quentin Colmant and Jean-Charles Velge, Qover offers insurance products through open APIs and white-label front-ends. The start-up claims that its proprietary insurance infrastructure allows for the launch of non-life insurance products in any European country in just six weeks.

Qover said it will use the new funds to accelerate its growth in selected verticals, including supporting insurers through turnkey solutions for their digital acquisition channels. The company is also looking to expand its team and hire engineers, product managers, project managers and business developers.

Velge said: “We operate at the crossroads of technology and insurance and it’s our mission to be the partner of choice of every business looking for digital insurance. This funding will allow us to accelerate our European development and investment in R&D and cutting-edge technology.”

Hélène Falchier, partner at Portag3 Ventures, commented: “Qover’s impressive track record and ambitious growth plans made investing in this team an appealing proposition. They have a clear idea of where they want to go and as rising stars in the European digital insurance space, we look forward to leveraging our expertise and network to help them reach new heights.”

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