# upcover

> upcover is a Sydney-based insurtech turning slow, paperwork-heavy commercial insurance into an instant, digital experience for Australian small businesses, startups and scaleups. Its platform lets a business get a quote by answering as few as two questions, buy cover, receive a certificate of currency instantly and even finance the premium in one click. Through insurance APIs and white-labelled journeys, upcover also lets other brands and platforms embed business insurance directly into their own products. Founded in 2019 and led by co-founder and CEO Skye Theodorou, the company works with around 40 insurers and serves roughly 60,000 businesses.

- **Founded:** 2019
- **Headquarters:** Sydney, Australia
- **Founders:** Skye Theodorou (Co-founder & CEO), Anish Sinha (Co-founder & CTO), Sajjad Naveed (Co-founder)
- **Team size:** ~52 employees, spanning ten countries
- **Products:** Digital insurance broking platform, Business insurance products, Embedded insurance API, One-click premium financing, Instant certificates of currency
- **Notable:** Grew to serve around 60,000 Australian businesses, Closed a A$19M Series A in February 2025 at a A$45M valuation, Doubled revenue and halved costs in the year before its Series A

## Products & services

- **Digital insurance broking platform** — An online marketplace where SMEs, startups and scaleups get instant quotes, buy cover and download certificates of currency, with quotes generated from as few as two questions.
- **Business insurance products** — Public and products liability, professional indemnity, cyber and privacy liability, management liability, personal accident, tools of trade and industry-specific covers for trades, allied health, beauty, fitness, tech and professional services.
- **Embedded insurance API** — A single insurance API that connects to insurers so brands, marketplaces and SaaS platforms can offer white-labelled B2B insurance and quote-to-bind checkout inside their own products.
- **One-click premium financing** — Insurance funding that lets businesses pay for cover in instalments with a single click at the point of purchase.
- **Instant certificates of currency** — Immediate, downloadable proof of insurance so businesses can win contracts and satisfy compliance without waiting on a broker.

## Achievements

- Grew to serve around 60,000 Australian businesses
- Closed a A$19M Series A in February 2025 at a A$45M valuation
- Doubled revenue and halved costs in the year before its Series A
- Converts roughly 1 in 3 quote requestors into customers
- Built a panel of around 40 insurers and a team across ten countries
- Launched an embedded insurance API enabling brands to sell B2B cover

## Latest updates

- **2025-02** — Raised a A$19M Series A (A$11M equity led by RealVC plus A$8M debt from Marshall Investments) at a A$45M valuation, with backing from Gandel Invest and angels including former Westpac CEO Brian Hartzer.
- **2025** — Used Series A funds to launch new digital insurance products and expand offerings to its 60,000+ business customers, including one-click premium financing.

## Links

- Website: https://upcover.com
- LinkedIn: http://www.linkedin.com/company/upcover
- Twitter/X: https://twitter.com/getupcover
- Facebook: https://facebook.com/getupcover/

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Profile page: https://yespress.io/upcover
Published by YesPress — https://yespress.io
Last updated: 2026-07-24