7 years ago

Marshmallow Raises $1.2M Seed Funding to Provide Car Insurance to Immigrants and Expats in the UK

  • Marshmallow, a new insurtech startup in the U.K

  • building a product for immigrants/expats who are poorly served by the car insurance market, has picked up $1.2 million in seed funding

  • Backing the company, which is set to launch later this year, is Passion Capital, and Investec Bank

  • The startup is developing insurance products that aim to use better data and technology to provide more fairly priced insurance cover to non-U.K

  • nationals

  • Marshmallow is starting out with car insurance for foreign-born drivers.

      • ProblemFinancial Services

      "Immigrants and expats in the UK are often overcharged for car insurance because traditional insurers don't understand their driving histories and lifestyles. "

      Solution

      "Marshmallow uses global data and a proprietary algorithm to provide more accurate and fairer car insurance prices for immigrants and expats living in the UK."

      Covered on