Upcover launches FinTech Vertical, Australia’s first dedicated fintech insurance vertical

Upcover, Australia’s only digital-first commercial insurance provider, has launched a dedicated FinTech Vertical, delivering tailored insurance solutions for financial technology companies navigating complex, regulated environments. The offering includes access to global underwriters — CFC and Coalition — bespoke coverage, and advisory expertise from Upcover’s Special Risks team.

The launch addresses a long-standing gap in the Australian insurance market — the lack of fit-for-purpose insurance solutions for fintechs. Founders in this space often struggle to find policies that align with the technical, operational, and regulatory nuances of modern finance businesses. Off-the-shelf products typically fail to meet licensing, investor, or enterprise procurement requirements, leaving companies underinsured or exposed.

The FinTech Vertical spans key subsectors — from Web3 and neobanking to regtech and embedded finance — offering professional indemnity, cyber liability, D&O, tech E&O, crime, and blockchain-specific coverage.

Fintechs already leveraging the new insurance solution include investment-as-a-service provider Cache Invest and pet insurance platform Fetch Pet.

“Having helped dozens of fintechs secure insurance for license applications, fundraising, and product launches, this new vertical reflects what we’ve already been doing — now formalised and scaled,” said Anish Sinha, Co-Founder at Upcover.

Unlike traditional brokers, Upcover brings a founder’s-eye view to the fintech space. Its firsthand experience navigating the regulatory maze enables it to offer not just quotes, but strategic advice on how insurance integrates with legal, financial, and product milestones.

“We’re not just a broker, we’re a fintech company in the financial services industry too,” Sinha added.

“That means we understand what’s at stake when founders face investor due diligence, ASIC compliance, or procurement hurdles. Insurance can’t just be box-ticking, it needs to work in real-world scenarios.”

Upcover’s FinTech Vertical serves companies in lending, BNPL, payments infrastructure, crypto, insurtech, wealthtech, and more. Its focus is to ensure these innovators have insurance programs that can evolve with them — across products, geographies, and investor stages.

This announcement follows Upcover’s $19 million Series A raise in early 2025, aimed at expanding its digital insurance footprint across Australia’s $20 billion commercial insurance market. The company doubled its revenue last year and has helped over 1% of Australian businesses access tailored insurance solutions.