WEECOVER, the market leader in Spain for embedded insurance, has successfully closed a €4.2 million funding round aimed at accelerating its growth plans and international expansion.
This second funding round was led by Swanlaab Venture Factory and Nauta Capital (existing investor). Other participants included La Roca Capital, Bankinter, Prosegur, and Íope Ventures (the investment vehicle of Telefónica Seguros and Wayra), alongside previous investors such as Astorya VC.
Technology for the New Era of Insurance
Founded and led by entrepreneurs Jordi Pagès and Rafael Gallardo, the insurtech Weecover offers a wide range of APIs and technological solutions designed to connect insurers with distributors in an agile, competitive, and secure manner.
Its Insurance as a Service (IaaS) platform enables retail companies, e-commerce platforms, financial institutions, and digital apps to offer insurance products simply and efficiently. Thanks to its multi-channel and multi-product approach, Weecover covers the entire distribution process: from the initial quote and purchase to after-sales operations.
Innovation and Rapid Deployment
The Weecover SaaS solution stands out for its speed: it allows any distributor to implement an insurance sales workflow in a matter of weeks, adapting to their specific operations while guaranteeing the highest standards of security and performance. Furthermore, the platform already incorporates Generative AI advancements to optimize customer service and reduce operational costs.
Currently, Weecover collaborates with retail and financial giants such as:
- Distributors: PcComponentes, FNAC, Decathlon, and seQura.
- Insurers: Mapfre, Línea Directa, and LagunAro.
With a presence in Portugal, France, Andorra, and Mexico, the platform managed over 100,000 annual policies by the end of 2024. The company, which currently has 20 employees, plans to strengthen its team in marketing, sales, and technological development to consolidate its leadership position.
Statements from the Key Partners
Jordi Pagès, CEO of Weecover: “Having the backing of funds like Swanlaab and Nauta not only allows us to accelerate our expansion but also reinforces our value proposition and helps us continue offering innovative solutions. We are excited about the future of the insurance sector.”
Jordi Viñas, General Partner at Nauta: “Since our investment in 2021, we have seen Weecover mature. The insurance industry continues to adapt to a consumer who demands easy access to more products. Weecover has become an essential solution for integrating insurance into the sales process and increasing profitability for its clients.”
Juan Revuelta, Partner at Swanlaab: “We firmly believe in the future of embedded insurance and in Weecover’s ability to lead this transformation. The deep sector knowledge of the team led by Jordi Pagès is a unique asset that sets them apart from the competition.”
