Qover Raises $12M Growth Facility from CIBC Innovation Banking

Qover, a Brussels-based embedded insurance orchestration platform, raised $12 million in a growth capital facility from CIBC Innovation Banking during the week of 30 March to 5 April 2026. The new funding brings Qover's total capital raised to over $100 million since the company was founded in 2016. Qover's platform enables partners such as Revolut, Mastercard, BMW, and Monzo to embed insurance products directly into their customer experiences.

The platform currently protects 15 million users across more than 32 countries, with an ambitious goal of reaching 100 million users by 2030. CIBC Innovation Banking, the lending arm providing the facility, specializes in growth-stage technology and innovation companies. The deal underscores continued investor interest in embedded insurance as a growing segment within the broader embedded finance ecosystem.