Napo Raises £12m to Transform Pet Insurance Landscape
Deal News | Feb 27, 2025 | Mercia Fund Management (Mercia Ventures)
Napo, a digital-first pet insurance platform based in London, has successfully raised £12 million in a Series B funding round led by Mercia Ventures. The financing, which also saw participation from DN Capital, Companion Fund, MTech Capital, and Helvetia Venture Fund, will facilitate Napo's plans to enhance its AI and automation capacities. It will also support the company's goal to expand geographically, grow its market share, and increase its team size. Napo, established in 2021 by Jean-Philippe Doumeng and Ludovic Lacay, seeks to deliver comprehensive pet insurance coverage, including dental care and 24/7 vet access, with an emphasis on quality and sustainability. With the latest investment, Napo has raised a total of £30 million to date. The funding underscores Napo's commitment to revolutionizing the pet insurance industry and offering an all-encompassing service for pet owners.
Sectors
- Insurance Technology (InsurTech)
- Pet Care
Geography
- United Kingdom – Headquarters of Napo is located in London, UK, making it the primary geographical focus of the article.
Industry
- Insurance Technology (InsurTech) – Relevant due to Napo's digital-first approach to pet insurance, utilizing AI and automation to enhance operations and customer experience.
- Pet Care – Pertinent because Napo provides pet insurance services, targeting the care and well-being of pets.
Financials
- £12 million – Series B funding round amount raised by Napo.
- £30 million – Total amount raised by Napo to date.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Napo | Target company | Company | A London-based digital-first pet insurance platform aiming to revolutionize pet care. |
| Mercia Fund Management (Mercia Ventures) | Leading investor | Company | A private equity firm leading the Series B funding round for Napo, investing from its Northern Venture Capital Trusts. |
| DN Capital | Investor | Company | A venture capital firm participating as an existing investor in Napo's Series B funding round. |
| Companion Fund | Investor | Company | A venture capital firm focusing on the pet care industry, participating in the Series B funding round. |
| MTech Capital | Investor | Company | A venture capital firm that invests in InsurTech, participating in the Series B round. |
| Helvetia Venture Fund | Investor | Company | A fund supporting innovative insurance startups, participating in the Series B investment round. |
| Jean-Philippe Doumeng | Co-founder and CEO | Person | Co-founder and CEO of Napo, instrumental in driving the company's vision and strategy. |
| Ludovic Lacay | Co-founder | Person | Co-founder of Napo, involved in setting up the company's mission and offerings. |