Marshmallow secures $90m in equity and debt to push into international markets and expand its product suite.
The funding round doubles the insurtech unicorn's valuation to over $2bn with backing from Portage, BlackRock, and Columbia Lake Partners.
≈ £68.0M at $1 = £0.7558 on 15 Apr 2025
Marshmallow is a digital insurer that uses machine learning to provide fairer coverage for drivers with non-standard histories.
Marshmallow has secured a $90m funding round comprising equity and debt, nearly doubling its valuation to over $2bn. The investment was backed by Portage, BlackRock, and Columbia Lake Partners. The company plans to deploy the capital to broaden its product suite and push into international markets as it targets newcomers moving across borders.
The insurtech firm focuses on providing fairer pricing for drivers often neglected by traditional insurers, including immigrants and young motorists. By deploying advanced data science, the company aims to simplify risk assessment and deliver a fully digital claims journey.
Co-founder Oliver Kent-Braham noted that the company intends to expand its offerings beyond car insurance to serve as a comprehensive financial hub for international movers. Portage General Partner Devon Kirk cited the firm's leadership in addressing consumer financial challenges as a key driver for the investment.
From the founder
"Our ambition is to become a one-stop-financial-shop for newcomers so they feel as though it’s easy to move to, and live in, a different country. We’ve already supported over one million people in the UK with their insurance needs, but we’re only just scratching the surface. There are still major financial services barriers that make it harder for newcomers to settle and take part in everyday life. This funding gives us the capital to solve these problems and deliver against our mission."
Oliver Kent-Braham
Co-CEO and Co-Founder at Marshmallow
Investor perspective
"Marshmallow is a clear leader in innovating to solve important financial challenges for consumers. We are confident in the business’ ability to continue developing solutions for a fairer financial ecosystem, and we are excited to support this strong team as it enters its next stage of growth."
Devon Kirk
General Partner & Co-Head, Portage
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
Marshmallow
Marshmallow provides fairer vehicle insurance for drivers with non-standard credit histories.