Series C5 May 2020

Bought By Many secures £78.4m Series C funding led by FTV Capital to fuel international expansion

FTV Capital led the £78.4m growth equity round with backing from existing investors to support new market entries and product development.

£78.4MSeries C

Bought By Many is a London-based pet insurance provider offering digital policies for cats and dogs. The firm provides specialized cover, including options for pre-existing conditions and digital vet access.

Bought By Many has secured £78.4m in a Series C growth equity financing round led by FTV Capital, with participation from existing backers including CommerzVentures, Munich Re Ventures, and Octopus Ventures. The fresh capital will be deployed to drive domestic market share, expand product capabilities, and pursue further international growth following recent launches in Sweden.

The business has experienced rapid scaling since launching its proprietary policies, insuring over 200,000 pets and recording significant year-on-year sales increases. Leadership intends to channel resources into team expansion and product development to cement its position across existing and new territories.

From the founder

"We’re delighted to close this round with the full support of our investors. This investment gives us the opportunity to look ahead, create more jobs and provide the insurance pet owners care about for years to come."

Steven Mendel

CEO at Bought By Many

Investor perspective

"Additionally, the company’s consumer-friendly technology and high-quality team have allowed the company to rapidly enhance its offering with market-leading features like digital vet appointments, fully digital claims, direct settlement with vets, and other easy-to-use features. The future is bright for Bought By Many and FTV Capital is proud to be a contributing partner to the company’s continued, long-term success."