CIBC Innovation Banking Provides €10m in Growth Financing to Embedded Insurance Platform Qover

BRUSSELS--(BUSINESS WIRE)--CIBC Innovation Banking today announced that it has provided growth financing to Qover, a European-based embedded insurance platform. The funding will be used to support Qover’s continued expansion and growth.

Qover orchestrates embedded insurance for businesses and insurers across Europe through a flexible, API-first tech platform that gives distribution partners more control over their insurance program.

“Insurance is complex, but it doesn't have to be – and we're proving that every day with our partners,” said Quentin Colmant, CEO and Co-founder at Qover. “CIBC Innovation Banking’s support lets us double down on building the platform and services that make embedded insurance actually work at scale, helping more businesses succeed across Europe.”

“We are delighted to be funding Qover as it continues on its impressive growth trajectory,” said Sean Duffy, Managing Director of CIBC Innovation Banking UK & Europe. “In a fast moving world, embedded insurance is becoming an increasingly important offering, both to leading brands and to their customers.”

About CIBC Innovation Banking

CIBC Innovation Banking has 25 years of specialized experience in growth-stage tech and life science companies across North America – a longer track record than most banks. CIBC now has over $11 billion in funds managed including life sciences, health care, cleantech companies, investors, and entrepreneurs, and has assisted over 700 venture and private equity-backed businesses over the past eight years. The bank operates out of 14 global locations in San Francisco, Menlo Park, New York, Toronto, London, Austin, Boston, Chicago, Seattle, Vancouver, Montreal, Atlanta, Reston, and Durham. Connect with us today to start the conversation. https://www.innovationbanking.cibc.com/home

About Qover

Qover is an insurtech that enables companies and insurance providers to offer seamless, tech-driven insurance experiences. Qover’s modular embedded insurance orchestration platform provides meaningful insurance experiences to millions of users across 32 European countries, and works with longstanding partners like Revolut, Mastercard, BMW, Canyon and many others.