Napo raises £15m in a Series A round led by DN Capital to accelerate growth and product rollout.
DN Capital led the oversubscribed Series A round to support product rollout and market expansion.
Napo is a pet insurance start-up that combines comprehensive policies with preventative and educational care features. The company provides a technology platform designed for digital native pet owners.
Napo has secured £15m in an oversubscribed Series A funding round led by DN Capital. The raise drew participation from a range of backers including Companion Fund, Helvetia Venture Fund, M Tech Capital, Picus Capital, dmg ventures, Sarona Partners, T0 Ventures and FJ Labs. The capital will be directed towards accelerating product rollout, increasing the number of insured pets, expanding the team, and preparing for international growth. This follows rapid expansion since the company launched in December last year.
From the founder
"Our mental model is fundamentally different from traditional pet insurance. We are aligning all stakeholders to look in the same direction by helping people to take better care of their pets."
Jean-Philippe Doumeng
Co-founder and CEO at Napo
Investor perspective
"We met all of the 'neo pet-insurers' in Europe, and frankly, we weren't interested in backing another insurance MGA. Nobody needs another paper pusher, but a whole generation of new pet owners are crying out for a platform that helps them look after their pets better. What set Napo apart was their focus on building a virtuous circle between educating owners, providing veterinary care and improving pet health – all leading to lower claims, lower premiums and happier customers in the long-term."
Guy Ward Thomas
Partner, DN Capital
Use of funds
- 01Continue product development
- 02Grow the team
- 03Expand into international markets
Investors
Guy Ward Thomas
DN Capital
Victoria Perweiler
Companion Fund
Helvetia Venture Fund
M Tech Capital
Picus Capital
dmg ventures
Sarona Partners
T0 Ventures
FJ Labs