Napo Secures £12m in Series B Funding to Transform Pet Insurance
Deal News | Feb 27, 2025 | Mercia Fund Management (Mercia Ventures)
Napo, a London-based pet insurance platform, has successfully raised £12 million in a Series B funding round led by Mercia Ventures with contributions from DN Capital, Companion Fund, MTech Capital, and Helvetia Venture Fund. The funding is poised to bolster Napo's AI and automation technologies, expand its market presence, and scale up its workforce as it plans to extend its geographical reach. Napo, founded in 2021 by Jean-Philippe Doumeng and Ludovic Lacay, distinguishes itself through a digital-first model offering comprehensive lifetime coverage, including dental care, behavioural consultations, preventive care, and 24/7 veterinary access. Notably, they also provide discounts for insuring several pets under a single policy. Co-founder and CEO Jean-Philippe Doumeng emphasized their focus on quality, sustainability, and comprehensive insurance services, aiming to enhance customer experience and satisfaction as indicated by an NPS of over 70 and positive Trustpilot reviews. Mercia Ventures is investing through its Northern Venture Capital Trusts.
Sectors
- Insurance
- Technology
- Venture Capital
Geography
- United Kingdom – Napo is a London-based company and Mercia Ventures is a UK-based venture capital firm, indicating the article's primary geographical focus.
Industry
- Insurance – The article discusses an investment in a pet insurance company, Napo, highlighting the insurance industry's involvement.
- Technology – Napo focuses on improving its AI and automation capabilities, showing the tech-driven approach in modern insurance solutions.
- Venture Capital – The article involves a venture capital firm, Mercia Ventures, leading a funding round, highlighting the sector's role in financing growth.
Financials
- £12 million – The amount raised by Napo in its Series B funding round.
- £30 million – The total amount raised by Napo to date.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Napo | Target Company | Company | A London-based pet insurance platform aiming to revolutionize the sector with comprehensive and digital-first policies. |
| Mercia Ventures | Lead Investor | Company | A UK-based venture capital firm leading 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 contributing to the Series B funding for Napo. |
| MTech Capital | Investor | Company | An existing investor involved in Napo's Series B funding round. |
| Helvetia Venture Fund | Investor | Company | An existing investor in Napo's Series B funding. |
| Jean-Philippe Doumeng | Co-founder and CEO | Person | Co-founder and CEO of Napo, involved in leading the company's strategic direction. |
| Ludovic Lacay | Co-founder | Person | Co-founder of Napo. |