COVER GENIUS SECURES $70M USD ($100M AUD) IN SERIES C ROUND DRIVEN BY SOMPO HOLDINGS ASIA TO EXPAND ITS EMBEDDED INSURANCE PLATFORM
Cover Genius, the leading insurtech for embedded insurance, announced today that it has secured $100M AUD in a Series C funding round led by Sompo Holdings (Asia) Pte. Ltd (Sompo Asia) who invested ~$68M AUD, with participation from G Squared and other existing investors. The latest funding round follows a momentous six months during which Cover Genius tripled its gross written premium (GWP) after signing over 20 new partners across multiple industries.
The funding will be used to expand its global insurance distribution platform and support new e-commerce, property, travel, mobility, auto, B2B and financial services partners.