Embedded insurance platform Qover secures £9m in growth funding

Embedded insurance orchestration platform Qover has secured a £9m ($12m) growth capital facility from investor CIBC Innovation Banking.

The firm, which today (31 March 2026) marks its tenth anniversary, said its total fund raising had now crossed £74.6m ($100m), highlighting “investor confidence in the company’s trajectory”.

A March report from Fortune Business Insights indicated the embedded insurance market would be worth £131bn ($176bn) by the end of 2026, over which timeframe Qover said it woud like to grow its customer base from 15 million to 55 million.

Qover currently reports a gross written premium (GWP) of £129m ($173m). It said the capital investment would support its “continued investment in its orchestration platform, artificial intelligence (AI) capabilities and operational infrastructure as the company enters its next chapter”.

Responsible growth

Quentin Colmant, co-founder and chief executive at Qover, said: “We started with a simple conviction – insurance could be simpler and truly accessible across borders.

“Ten years and 15 million users later, that conviction has become a platform and, with AI now 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.”

Caroline Hanotiau, general counsel at Qover, added: “The next decade of insurance will be defined by the companies that can operate at scale without sacrificing precision.

“AI gives us the opportunity to make compliance by design the standard, not the exception, allowing us to expand into more products and more regions with the confidence that we are always operating at the highest level. That’s how Qover will grow responsibly and at the scale our vision demands.”