Insurtech Qover today marks its 10th anniversary with a significant milestone: the extension of a $12 million growth capital facility from CIBC Innovation Banking, bringing total funding raised since inception to over $100 million.
Founded in 2016 by Quentin Colmant and Jean-Charles Velge, Qover set out to make insurance simple, transparent, and accessible across borders through technology.
Ten years later, the company has become a defining force in European insurtech, orchestrating embedded insurance programs for major global brands including Revolut, Mastercard, BMW, Monzo, bunq, Canyon and Trust Travel (a TUI brand), across 32+ countries.
Qover now protects 15 million people through its platform and is on track to reach 55 million users by the end of 2026, driven by a strong pipeline of partner programs currently in implementation.
Over the last four years, Qover has achieved 3x revenue growth, with total GWP exceeding $173 million.
“We started with a simple conviction: insurance could be simpler and truly accessible across borders,” said Quentin Colmant, CEO and Co-founder of Qover.
“Ten years and 15 million users later, that conviction has become a platform, and with AI now accelerating what’s possible, we are more ambitious than ever.
Our goal is to protect 100 million people by 2030, building the infrastructure that makes a global safety net real.”
The additional growth capital from CIBC will support Qover’s continued investment in its orchestration platform, AI capabilities and operational infrastructure as the company enters its next chapter.