Belgium’s Qover raises €5.5 million in Series A funding

Belgian financial technology startup Qover has raised €5.5 million in a Series A round led by Anthemis.

Qover is a startup in the growing “insurtech” space. It provides digital insurance APIs to help build digital insurance products. With its new funding, the company is expanding its first product, GAP motor coverage, beyond Belgium and will open a London office. It is currently in a partnership with Munich Re and has coverholder status with Lloyd’s of London.

“Armed with this funding, partnerships with two of the world’s leading risk carriers, and a product already in market, the Qover team has big plans for 2017 and beyond,” said cofounder Jean-Charles Velge.

“Anthemis are strong believers of the notion of embedded insurance and fully support Qover’s ambitious vision of an API-driven insurance industry,” added Yann Ranchere, partner at lead investor Anthemis.

Qover previously raised €1.5 million in a seed round last year from BelCube and Callatay & Wouters.