4 years ago

Marshmallow, Insurtech Startup, Set to Become Unicorn with $1.2 Billion Valuation

  • Marshmallow, a London-based insurtech startup, is reportedly set to become a unicorn with a valuation of $1.2 billion (approx £870 million)

  • The company, founded by twin brothers Alexander Kent-Braham, Oliver Kent-Braham, and David Goate, provides more fairly priced insurance cover to non-UK nationals using a proprietary pricing algorithm

  • Marshmallow has quadrupled its customer base to over 50,000 and increased its workforce to 100

  • The company has raised €28.4 million (approx £24 million) from investors including Passion Capital, Chris Adelsbach, Outrun Ventures, and Will Brooks

  • Marshmallow has been involved in a legal dispute with Mulsanne Insurance, which accused the company of stealing trade secrets and breaching contracts

  • However, Marshmallow has denied these accusations.

      • ProblemFinancial Services

      "The traditional insurance industry charges migrants and expats higher premiums without transparency, cashing in on their lack of knowledge and outdated systems."

      Solution

      "Marshmallow develops insurance products using better data and technology to provide more fairly priced insurance cover to non-UK nationals, with a proprietary pricing algorithm that lowers prices for immigrants, expats, and nomads."

      Covered on