Qover marks 10 years with $12M in growth funding from CIBC
BRUSSELS, March 31, 2026 /PRNewswire/ -- Qover, the European leader in embedded insurance orchestration, marks its 10th anniversary with a significant milestone: the extension of a $12 million growth capital facility from CIBC Innovation Banking – bringing total funding raised since inception to over $100 million – reinforcing investor confidence in the company's trajectory and its AI-driven vision for the next decade of insurance infrastructure.
Founded in 2016 by Quentin Colmant and Jean-Charles Velge, Qover set out with a clear ambition: make insurance simple, transparent and accessible across borders through technology. Ten years later, the company is a defining force in European insurtech, orchestrating embedded insurance programs for major global brands including Revolut, Mastercard, BMW, Monzo, bunq, Canyon and Trust Travel (a TUI brand), across 32+ countries.
The timing of this funding reflects the momentum of the broader market Qover helped pioneer. According to Fortune Business Insights, the global embedded insurance market will grow from $176 billion in 2026 to over $1.46 trillion by 2034.
Against this backdrop, Qover protects 15 million people through its platform and is on track to reach 55 million users by the end of 2026, driven by a strong pipeline of partner programs in implementation.
Over the last four years, Qover has achieved 3x revenue growth with a total of over $173M of GWP, reflecting growing enterprise demand for embedded insurance solutions that are intuitive, AI-powered and built for the complexity of operating across markets and regulatory environments. The additional growth capital from CIBC will support Qover's continued investment in its orchestration platform, AI capabilities and operational infrastructure as the company enters its next chapter.
Behind that growth is a vision that's never wavered: that technology can create a global safety net, where protection is so seamlessly embedded in everyday life that people are covered no matter what happens. By enabling companies to offer insurance as a native part of their products and services, Qover is helping insurance reconnect with its original purpose: not just covering risk, but empowering people to live life to the fullest.
"We started with a simple conviction: insurance could be simpler and truly accessible across borders," said Quentin Colmant, CEO & Co-founder of Qover. "Ten years and 15 million users later, that conviction has become a platform. With AI accelerating what's possible, we are more ambitious than ever. Our goal is to protect 100 million people by 2030, building the infrastructure that makes a global safety net real."
"The next decade of insurance will be defined by the companies that can operate at scale without sacrificing precision," said Caroline Hanotiau, General Counsel at Qover. "AI gives us the opportunity to make compliance by design the standard, not the exception, allowing us to expand into more products and regions with the confidence that we're always operating at the highest level. That's how Qover will grow responsibly and at the scale our vision demands."
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