SingularCover
Insurance specialists for SMEs and Self-Employed.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor investor investor investor investor | €0.0 | round | |
N/A | - | ||
| Total Funding | 000k | ||
| EUR | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | - | 90 % | 33 % | 28 % | (91 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | - | (93 %) | - | - | - | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | - | (89 %) | - | - | - | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article, Dealroom estimates
Related Content
SingularCover was an insurtech company established in 2018 in Barcelona, Spain, targeting the often-underserved market of small and medium-sized enterprises (SMEs) and self-employed professionals. The founding team included Rafael González-Montejano (CEO), Christian Hoffmann (COO), and Miguel Vicente, who brought together extensive backgrounds in insurance, technology, and business ventures. González-Montejano, a licensed insurance broker, had over two decades of experience in the insurance and loyalty solutions sectors with large corporations like Affinion, Citigroup, and BNP Paribas. This collective expertise aimed to address a significant gap in the Spanish market, where SMEs are crucial to the economy but often neglected by traditional insurers.
The company operated as an online insurance platform, functioning as a digital broker to provide customized insurance products. Its business model revolved around using data analytics and artificial intelligence to offer personalized quotes for policies such as civil liability, multi-risk commercial insurance, business interruption, and accident coverage. This technology-driven approach was designed to simplify and accelerate the insurance purchasing process, allowing a business owner to get insured online in minutes. SingularCover partnered with established insurance carriers like Allianz, Generali, and Liberty to underwrite the policies it aggregated and customized for its clients.
Over its operational life, SingularCover secured more than $7 million in funding across several rounds from investors including Liberty Mutual Strategic Ventures, Mutua Madrileña, and Global Founders Capital. A significant Series A round in June 2020 raised approximately $5 million (€4.5 million). Despite its initial traction and ambition to innovate within the SME insurance space, the company faced challenges in securing further funding. Consequently, after failing to close a new financing round, SingularCover ceased operations in August 2023.
Keywords: Insurtech, SME Insurance, Digital Broker, Barcelona, Commercial Insurance, Liability Insurance, Online Platform, Venture Capital, Financial Services, Startup