Private investors have backed Covomo, an online travel insurance broker, leveraging its innovative platform and strong growth potential in Germany's expanding travel insurance market.

Target Information

Covomo, founded in April 2014, is an online travel insurance broker that operates one of the largest tariff databases in Germany, offering over 450 different travel insurance plans from more than 15 insurance providers on its comparison platform. The company gained attention at the AUFSCHWUNG trade fair for startups in March, where the founders, Simon Nörtersheuser and Karl Dieterich, effectively showcased their business model to attract investors.

By the first half of 2015, Covomo had already facilitated more travel insurance policies than during its entire inaugural year in 2014. The platform distinguishes itself with a high density of tariffs, allowing a broader coverage of consumer demands compared to other comparison platforms. Moreover, Covomo features a unique approach, presenting individual tariffs from various providers that consumers can compare and customize into tailored packages.

Industry Overview

The travel insurance market in Germany is evolving rapidly, driven by increased consumer awareness and the growing importance of comprehensive travel coverage. With a rising number of travel