4 years ago

Marshmallow Becomes UK's First Black-Owned Unicorn After $85M Series B

  • London-based digital motor insurance startup Marshmallow has raised $85 million in a Series B funding round, valuing the company at $1.25 billion

  • This makes Marshmallow Britain's first black-owned unicorn

  • The round was led by Passion Capital, with participation from Investec and Scor

  • Marshmallow will use the funding to expand into new countries, hire more people, and develop new products.

      • ProblemFinancial Services

      "Many people are deemed 'high risk' by traditional insurance companies and are forced to pay high premiums for basic coverage."

      Solution

      "Marshmallow leverages technology, big data, and AI to provide affordable insurance to customers who fall outside the typical 'good risk' profile, offering fair pricing and a modern, customer-centric experience."

      Covered on