Cover Genius secures £62m in Series D funding led by Dawn Capital to drive business growth
Dawn Capital led the Series D round with participation from Atlas Merchant Capital, GSquared, and King River Capital.
Cover Genius operates a global digital insurance distribution platform providing embedded protection for various industries. The firm enables online enterprises to offer tailored warranty and insurance products to their customers.
Cover Genius has secured £62m in Series D funding to support its ongoing business growth and the expansion of its XCover insurance platform. Dawn Capital led the financing round, with participation from Atlas Merchant Capital, GSquared, and King River Capital. The investment follows a period of significant growth for the firm, which has nearly tripled its year-over-year revenue and increased its partnership base.
The fresh capital will be directed towards business expansion as the company scales its global capabilities and operations. Cover Genius currently offers embedded protection across multiple sectors, including travel, retail, and financial services, through partnerships with major digital brands.
From the founder
"We’ve always been strategic about our approach to fundraising, and closing our highest-ever funding round in a challenging environment for raising capital reinforces the strength of our embedded business model,"
Angus McDonald
CEO and co-founder at Cover Genius
Investor perspective
"Embedded insurance is a rapidly growing segment of the market, and Cover Genius has built a leading platform that is globally enabled, multi-line and end-to-end. They’re working with some of the world’s largest platforms in multiple industries, and have combined exponential growth this year with an exceptionally strong business model. We’re excited to support Cover Genius as it continues to reshape the insurance industry and enable easy protection for consumers and businesses."
Dan Chaplin
Principal, Dawn Capital
Use of funds
- 01Expand into international markets
- 02Scale operations
Investors
Categories
About the company
Cover Genius
Cover Genius provides an embedded insurance distribution platform for digital companies.