Sydney based upcover has raised $2.7 million in equity and $2.0 million in debt

Australian fintech news and information

upcover founders

The funds will be used to continue to build out their customer acquisition & product development strategy 💰✅

  • upcover enables any online business or brand to become a distributor of insurance products and monetise their existing membership & customer base;

  • upcover’s $4.7M seed round was backed by venture funds Antler Australia, and Betterlabs, as well as a host of innovative minds and industry leaders including, Patricia Priest, GM, LMI QBE, Raf Uy, CFO global fintech, Etika, Raf Niesten, CEO Bricks + Agent, and Colin Morgan, ex-CEO Global Life APAC, Zurich Insurance.

  • upcover plans to inject the capital into product development and customer acquisition, to help more SMBs and sole traders access hassle-free, easy to understand insurance policies.

  • Cofounded by Skye Theodorou and Anish Sinha, Theodorou commented:

“The journey of building upcover has been an incredible ride. With the platform live, and our customers loving the experience we offer, we know we are onto something unique. To be backed by some of the best in the insurance and banking business has been an incredible way to close out our seed fundraise. The insurance industry has long been plagued by convoluted questionnaires, overcomplicated terms, and lengthy quote timeframes and upcover is changing all of this."