Cover Genius acquires Friendsurance

Cover Genius has acquired Friendsurance, a Berlin-based provider of digital bancassurance solutions.

Founded in 2010, Friendsurance publicly disclosed ~$23 million in funding. The company says it serves nearly 150k customers.

As part of the deal, the Friendsurance team is joining Cover Genius.

“European banking represents one of the highest-conviction growth opportunities in embedded protection. Banks across the DACH region are under pressure to move beyond legacy cross-selling and deliver protection that integrates into their customers’ daily financial lives. Friendsurance has spent over a decade building the technology, the deep bank networks, and the institutional compliance required to make that possible. Together, we can offer European banking partners a clear advantage: a protection layer that is already compliant, highly optimized, and proven to drive platform yield.” – Angus McDonald, CEO and Co-founder of Cover Genius.

“We built Friendsurance to solve a clear friction point. Banks want to offer modern, customer-centric protection, but legacy infrastructure and compliance make it incredibly difficult. By joining the Cover Genius team, our people and our technology gain the global scale and resources needed to truly transform the market. We are incredibly excited to deliver a unified, world-class experience to European financial institutions.” – Tim Kunde, Co-Founder and CEO of Friendsurance.