Marshmallow Gains £68m Boost, Eyes £1.5bn Valuation
Deal News | Apr 15, 2025 | Business Cloud
Marshmallow, an innovative InsurTech firm, has successfully secured £68 million in funding, bringing its valuation to a remarkable £1.5 billion. The recent investment was supported by Portage, BlackRock, and Columbia Lake Partners, combining both equity and debt financing. This move comes three years following the company's Series B round and represents a key milestone in Marshmallow's growth trajectory. The funding will be pivotal in enhancing the company's product lineup and supporting its efforts to expand international offerings. Especially known for providing car and van insurance tailored for immigrants in the UK, Marshmallow has insured over a million drivers to date and achieved a turnover run rate exceeding $500 million. The company, guided by co-CEO and co-founder Oliver Kent-Braham, aims to broaden its scope to become a one-stop financial resource for newcomers in various countries. This strategic expansion is designed to address fundamental financial barriers faced by immigrants and improve accessibility to financial services globally.
Sectors
- InsurTech
- Financial Services
Geography
- United Kingdom – Marshmallow is primarily based in the UK, and the firm specializes in providing insurance to immigrants within this country.
- International – The article discusses Marshmallow's plans for international expansion, particularly its ambitions to serve immigrants globally.
Industry
- InsurTech – The article predominantly focuses on Marshmallow, a company within the InsurTech (insurance technology) sector, which is innovating the insurance landscape, particularly for immigrants.
- Financial Services – Marshmallow's ambition to offer broader financial products and services positions it within the wider financial services industry, addressing challenges faced by newcomers to the UK and elsewhere.
Financials
- £68 million – The total funding amount raised by Marshmallow in this round.
- £1.5 billion – The valuation of Marshmallow following the recent funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Marshmallow | Target Company | Company | An InsurTech firm dedicated to providing fair insurance options to immigrants, currently expanding its international reach. |
| Portage | Investor | Company | A venture capital firm participating in the funding round for Marshmallow. |
| BlackRock | Investor | Company | A global investment management corporation involved in Marshmallow's latest funding round. |
| Columbia Lake Partners | Investor | Company | A European venture debt fund providing growth capital to Marshmallow. |
| Oliver Kent-Braham | Co-CEO and Co-Founder | People | Co-CEO and co-founder of Marshmallow who emphasized the company's mission to become a comprehensive financial service provider to immigrants. |