Insurance tech app Coverfy raises €3.5 million in fresh funding

Barcelona-based insurance tech startup Coverfy has raised €3.5 million from K Fund, Seaya Ventures, and Sabadell Venture Capital.

Launched last year, the app allows users to browse and compare insurance coverage and has reached 60,000 users. Coverfy will invest the new cash in market expansion and further development of the app.

“Coverfy strives to allow users to take out the insurance they may need at any given time, without human interaction and optimized in terms of price and coverage,” said CEO Vicente Arias. “Nevertheless, it offers full access to our advisers, who are all duly certified and have extensive experience in insurance. Thanks to our use of big data and algorithms that have been developed over two years, it is now a possibility”.

The company previously raised €750,000 in seed funding last December.

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.