The Barcelona-based digital insurance startup Weecover does not cease in its expansion plan throughout Spain and its objectives to reach new markets, with its sights set on Portugal and France as areas of natural growth.
The company, created in 2021 by Jordi Pages and Rafael Gallardo, has obtained financial support from the Institut Català de Finances (ICF), which has granted it a participatory loan of 200,000 euros. These resources are part of the investment round that the startup closed at the end of 2021 with Nauta Capital as the main investor and with a global injection of 2.3 million euros. Nauta Capital is a venture capital firm partner of companies such as Privalia or Holded.
The co-founder and CEO of Weecover, Jordi Pages, states that "we are very satisfied with this agreement with the ICF that will allow us to continue developing the business in Spain, where we already have a reference customer base, and expand our model to other markets." As a result of the expansion of activities, Weecover currently has a team of 16 people in its Barcelona offices, and a turnover of around half a million euros in 2021.
Weecover's business focuses on a platform that facilitates insurance contracting, allowing companies to integrate personalized insurance products into their sales processes, both online and offline. Through a platform developed by themselves, Weecover integrates easily, enabling convenient, fast contracting directly from the same website where the product is purchased.
The ICF has instrumentalized the operation through IFEM Innovación, a source of financing aimed at companies in the initial phase or in the early stages of growth. Since the launch of this public-private instrument in 2012, the ICF has financed 143 startups for more than 23 million euros.
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