Funding

Weecover funding news – Insuretech Startup Weecover Secures €4.2 Million in Funding

Jan 23, 2025 | By Kailee Rainse

Spanish insurtech Weecover has raised €4.2 million to support its growth and expansion into new markets. The funding round was led by Swanlaab Venture Factory and Nauta, with participation from La Roca Capital, Bankinter, Prosegur, Íope Ventures, and other investors like Astorya VC.

SUMMARY

Spanish insurtech Weecover has raised €4.2 million to support its growth and expansion into new markets.
Weecover specializes in adding insurance solutions to online shopping. They help companies offer insurance as an easy, value-added option with just one click.

It provides APIs and tech solutions that help connect insurers with distributors, making it easier to offer insurance products through retail companies, e-commerce sites, banks, and apps.

Their platform handles the full insurance process, including sales and after-sales service, and helps improve the way insurance is distributed by using embedded insurance and optimizing current channels.

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Recently, the platform started using generative AI to improve customer service and lower costs.

Its clients include retailers like PcComponentes, FNAC, and Decathlon, financial companies like seQura, and insurers such as Mapfre, Línea Directa, and Lagunaro. Weecover also operates in markets like Portugal, France, Andorra, and Mexico.

Jordi Pagés, CEO of the company, commented on the raise: “Having the backing of funds such as Swanlaab or Nauta allows us not only to accelerate our expansion plans but also to strengthen our value proposition and continue to offer innovative solutions to our clients. We are excited about the future that lies ahead in the insurance sector.”

Juan Revuelta, Partner at Swanlaab, added: “At Swanlaab, we are excited to join Weecover in this new stage of growth, betting on its differential technology to optimize the implementation of Embedded Insurance with ease. We firmly believe in the promising future of this space within Insurtech and in Weecover's ability to lead this transformation thanks to its market vision. It is a sector full of opportunities and we are confident that Weecover will play a key role in its development. Furthermore, the team's in-depth knowledge of the insurance sector, led by Jordi Pagés, is a truly unique asset compared to the competition.”

About Weecover

Weecover specializes in adding insurance solutions to online shopping. They help companies offer insurance as an easy, value-added option with just one click.