Digital Insurance Manager Coverfy Announces €3.5M Series A

Barcelona-based Coverfy announced a €3.5M Series A round led by K Fund, Seaya Ventures and Sabadell Venture Capital . The investment comes on top of a $783K seed round announced in December 2016.

Launched last year, Coverfy is a mobile-first insurance manager that provides optimization and improvement services free of charge, by researching and proactively offering the best quote available for similar coverage, as well as allowing users to perform transactions with a few simple steps.

“Coverfy strives to allow users to take out the insurance they may need at any given time, without human interaction and optimized in terms of price and coverage. Nevertheless, it offers full access to our advisers, who are all duly certified and have extensive experience in insurance. Thanks to our use of Big Data and algorithms that have been developed over two years, it is now a possibility” – Founder and CEO Vicente Arias.

Bottom Line: ~60,000 users.