“With its digital multi-channel sales strategy Clearcover is responding to the growing demand for quick and affordable car insurance solutions. We found the competitiveness and scalability of the business model particularly persuasive in our decision to invest here”, noted Ulrich Wallin, Managing Director of Hannover Digital Investments GmbH.
“The car insurance experience is becoming increasingly digital and customers want streamlined, customizable options when choosing a carrier”, explains Kyle Nakatsuji, co-founder and CEO of Clearcover. “In an industry ripe for transformation, we see ourselves as innovators in digital car insurance experiences while providing our customers more value for less money.”
Along with lead investor Eldridge, existing investors American Family Ventures, Cox Enterprises, OMERS Ventures as well as a number of new investors – including HDInv – are also on board. Clearcover intends to use the financing to grow its team and further expand its range of digital insurance solutions.