Insurtech CoverGo announced that it is expanding to the Middle East in partnership with insurtech fund Noria Capital following its US$15 million Series A fundraise earlier this year.
The company’s Series A, which closed in May 2022, was led by SemperVirens venture capital fund’s Caribou Honig, who is also founder of insurtech conference InsureTech Connect.
CoverGo is a no-code insurance SaaS platform for P&C, health, and life insurance companies with clients such as AXA, Bupa, MSIG (MS&AD), Dai-ichi Life, DBS Bank, and Bank of China Group Insurance.
The company’s expansion in the Middle East is led by newly appointed Regional Director George Majdalani, who has 17 years experience in digital and health insurance innovation.
Founded in 2016 with offices in Hong Kong, Singapore, Vietnam and California, CoverGo recently set up its presence in the Dubai International Financial Centre (DIFC) and became part of DIFC Fintech Hive.
“CoverGo is uniquely positioned to become the insurance platform market leader, in particular for health insurance in the Middle East, and help companies accelerate their digital transformation without heavy IT development,”
said Rakan Abunayyan, General Partner of Noria Capital.
“The strategic investment from Noria Capital will further accelerate CoverGo’s growth in the Middle East and provide relationships with key partners and insurance companies in the region,”
said Tomas Holub, Founder & CEO of CoverGo.
