Insurtech startup Covera nets $1.5 mln in seed, pre-seed rounds

Montréal-based insurance technology startup Covera Technologies Inc has secured $1 million in a seed-stage financing. The round, which adds to a $500,000 pre-seed deal last year, was led by Canadian venture capital firm Ferst Capital Partners and joined by angel investors. Established in 2016 by CEO Scott Loong and CTO Paul O'Reilly, Covera develops technology that helps customers automatically re-shop their insurance policies. The funds raised will be used to support the company's growth and user acquisition initiatives, drive expansion in Canada, and build a team to accelerate product development.

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