Many Group secures £246m Series D round led by EQT Growth to fuel international expansion
EQT Growth led the £246m Series D round to support the pet insurer in its accelerated expansion into new geographies and product innovation.
Many Group operates as a digital-first pet insurance provider offering policies across the UK, Sweden, and the US. The company provides specialized cover and preventive wellness services designed for modern pet owners.
Many Group has secured £246m in a Series D funding round led by EQT Growth. The capital will be deployed to accelerate international expansion into new geographies and fund ongoing product innovation. The investment follows a period of rapid growth for the business, which has doubled gross written premiums for three consecutive years and expanded its operations into the United States.
EQT Growth joins the company as a backer, with partner Carolina Brochado taking a seat on the board. The financing values the pet insurer at over $2bn pre-money as it seeks to scale its digital-first insurance model to reach a broader international audience.
From the founder
"Our mission is to make the world a better place for pet parents. By creating unique policies, dramatically improving customer experience, and working closely with vets, we have made it possible for pets to be healthier and for them to enjoy longer, happier lives with their owners. We have hit several exciting milestones over the last four years, including our expansion into Sweden and the US, but most importantly we have gained the trust of hundreds of thousands of happy customers. With the support of EQT Growth and existing investors, we are now poised to reach millions more pet parents, as we continue to develop an enhanced pet health offering that takes care of every angle."
Steven Mendel
CEO and Co-founder at Many Group
Investor perspective
"Bought By Many's digital-first approach is unrivalled in pet insurance, a market that is large and underpenetrated in most European countries and the US."
Carolina Brochado
Partner in EQT Growth's advisory team, EQT
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
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About the company
Many Group
Many Group provides digital-first pet insurance and wellness services across Europe and the US.