Napo Secures £12 Million in Series B Funding to Transform Pet Insurance
Deal News | Feb 26, 2025 | Digitalis Ventures LLC
Napo, a UK-based pet insurance startup, announced that it has successfully secured £12 million in its Series B funding round, led by Mercia Ventures. This funding increases Napo's total capital raised to around £36 million. The company, which was founded in 2021 and reported impressive premiums and customer growth last year, plans to use the funds to expand its innovative and comprehensive insurance offerings. CEO Jean-Philippe Doumeng emphasizes the company's commitment to quality and sustainability, ensuring extensive coverage for pets, including dental and behavioral support, along with hassle-free claims processing. Existing backers, such as DN Capital and Companion Fund, also participated in the round. The investment underscores Napo's potential to redefine the pet insurance sector by integrating technology, customer-centric solutions, and long-term sustainability.
Sectors
- Insurance
- Venture Capital
- Pet Care
Geography
- United Kingdom – Napo is a UK-based pet insurance startup, making the region relevant to the article's context.
Industry
- Insurance – The article discusses Napo, a pet insurance startup, and its recent funding round, situating its operations in the broader insurance sector.
- Venture Capital – Companies such as Mercia Ventures and DN Capital are venture capital firms that have invested in Napo's Series B funding round.
- Pet Care – Napo is positioned within the pet care industry by offering innovative insurance products for pet owners.
Financials
- £12 million – The amount raised by Napo in its Series B funding round.
- £36 million – Total funding raised by Napo to date following the Series B round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Napo | Target company | Company | UK-based pet insurance startup focused on providing comprehensive coverage options. |
| Mercia Ventures | Lead Investor | Company | A venture capital firm that led the Series B funding round for Napo. |
| DN Capital | Investor | Company | An existing investor participating in Napo's Series B funding round. |
| Companion Fund | Investor | Company | An existing investor in Napo contributing to its Series B funding. |
| MTech Capital | Investor | Company | A participating investor in Napo's Series B funding round. |
| Helvetia Venture Fund | Investor | Company | An investor involved in Napo's Series B funding round. |
| Jean-Philippe Doumeng | Co-founder and CEO | People | Co-founder and CEO of Napo, committed to advancing sustainable and comprehensive pet insurance. |
| Martijn Kleibergen | Investment Director | People | Investment Director at Mercia Ventures, expressed support for Napo's vision in the pet insurance sector. |