FinTech Startup Covr Gains $10 Million in Series A Round

Covr Financial Technologies, a digital, multi-carrier life insurance platform for financial institutions, raised $10 million in Series A funding. Individual and family investors and current venture partners Nyca Partners, Commerce Ventures, Contour Venture Partners, and Connectivity Capital Partners were joined in the round by new investor Allianz Life Ventures.

Founded in 2012 by Todd Ruplinger, Covr claims it has doubled its financial institution customer base since 2016, representing 20,000 financial advisors and eight million consumers. The Covr roster now includes Morgan Stanley, along with US Bank and SunTrust—all of which leverage either one or both of Covr’s digital advisor or consumer platforms.