British InsurTech company Marshmallow, known for offering car and van insurance to recent UK arrivals, has secured approximately £68 million in fresh funding through a combination of equity and debt.
The latest funding round attracted participation from prominent investors including Portage, BlackRock, and Columbia Lake Partners, according to Business Cloud. The injection of capital has nearly doubled Marshmallow’s valuation, pushing it past the £1.5 billion mark—just three years after its Series B round.
Founded with the mission to make insurance more inclusive for immigrants and expatriates, Marshmallow has established a distinctive foothold in the UK market. The London-based company leverages proprietary technology and advanced customer data insights to deliver fairer, more accessible insurance pricing—countering the disproportionately high premiums often faced by newcomers.
With this new round of funding, Marshmallow aims to expand its suite of financial products and extend its services beyond the UK. The firm envisions building a comprehensive financial platform tailored to the needs of immigrants globally.
To date, Marshmallow has insured over one million drivers and reports an annual revenue run rate exceeding $500 million. The company continues to focus on bridging financial gaps for individuals typically underserved by traditional insurance providers.
This latest raise marks a significant milestone following its Series B round completed in 2021, underscoring investor confidence in Marshmallow’s growth trajectory and mission-driven approach.
