Marshmallow Raises $85 Million in Series B  

by Kay Aloha Villamor in September 13th, 2021

Marshmallow, a London, U.K-based Insurtech firm that uses a proprietary pricing algorithm to lower insurance prices for these groups, raised $85 million in Series B round valuing the company at $1.25 billion.

Existing investors Passion Capital, Investec Bank, and reinsurer SCOR participated in the round.

The Series B funds use to further expand the disruptive brand across Europe and grow its motor insurance market share in the UK.

Company: Marshmallow

Raised: $85.0M

Round: Series B

Funding Month: September 2021

Lead Investors:

Additional Investors: Passion Capital, Investec Bank, and reinsurer SCOR

Company Website: https://www.marshmallow.com/

Software Category: Insurtech

About the Company: The firm, founded in 2018 by identical twins Alexander and Oliver Kent-Braham, along with David Goate, now has more than 100,000 customers. As a licensed insurance carrier powered by technology, the firm seeks to renovate the insurance industry by offering customers who fall outside the typical ‘good risk’ profile, a fairer and faster service, via the utilization of data and artificial intelligence (AI). Being one of the only EU-based insurtech to own their own insurance company - they have total control of the entire value chain, from sign-up and pricing through to claims affording them the unrivaled ability to deliver an exceptional customer experience.

Source: https://www.finextra.com/newsarticle/38790/marshmallow-announces-series-b-funding-round

https://businesscloud.co.uk/insurtech-marshmallow-uks-first-black-owned-unicorn/

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