Overview
Insurtech company Qover has secured a $12 million growth capital facility from CIBC Innovation Banking, bringing its total funding to over $100 million since its inception in 2016. The company aims to simplify insurance and make it more accessible, currently protecting 15 million users and targeting 55 million by 2026. Qover has achieved 3x revenue growth over the past four years, with gross written premiums exceeding $173 million. The new funding will enhance its orchestration platform and AI capabilities.
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Investors: CIBC Innovation Banking
Insurtech company Qover has secured a $12 million growth capital facility from CIBC Innovation Banking, bringing its total funding to over $100 million since its inception in 2016. The company aims to simplify insurance and make it more accessible, currently protecting 15 million users and targeting 55 million by 2026. Qover has achieved 3x revenue growth over the past four years, with gross written premiums exceeding $173 million. The new funding will enhance its orchestration platform and AI capabilities.