Weecover Secures €4.2M in New Funding for Expansion

Weecover, a Spanish insurtech company specializing in embedded insurance solutions, has successfully secured €4.2 million in a new round of financing. This investment was led by Swanlaab Venture Factory and returning investor Nauta Capital, with participation from investors including La Roca Capital, Bankinter, Prosegur, and Ope Ventures. Originally launched with a seed round of €2.3 million in 2021 featuring Nauta as the lead investor, Weecover aims to utilize the new funding to enhance its growth and expand internationally. Founded by Jordi Pages and Rafael Gallardo, Weecover provides a platform that uses APIs and technology to simplify and democratize insurance product offerings for retail, e-commerce, financial institutions, and digital applications. Notably, the platform's integration capabilities and generative AI developments enable consumer distributors to adopt insurance services efficiently, thereby enhancing customer service and reducing costs. The company, which operates heavily within the Spanish market and also in Portugal, France, Andorra, and Mexico, anticipates growing its 20-member team, focusing on marketing, sales, and technology to solidify its Spanish market leadership and propel international operations. The backing of funds like Swanlaab and Nauta reflects the investors’ confidence in Weecover’s potential to lead innovation in embedded insurance as the global insurance sector evolves.