Upcover raises $2.7 million

Business insurance startup Upcover has raised $2.7 million in seed funding alongside $2 million in debt. The round included participation from Antler Australia, Betterlabs, as well as several angel investors including Colin Morgan, the former Zurich Insurance Global Life CEO for APAC, Patricia Priest, GM of QBE LMI (Lenders’ Mortgage Insurance), Raf Uy, CFO of global fintech Etika, and Raf Niesten, CEO of Bricks + Agent.

Founded in 2019, Upcover is based in Australia and offers coverage for small businesses, startups, and independent contractors. The startup offers products through Professional Risk Underwriting Pty Ltd (ProRisk), “Australia’s Underwriting Agency of the Year in 2020.” ProRisk coverages are backed by Australian insurers and Lloyd’s capacity.

According to LinkedIn, Upcover is a team of ~14.