Napo Secures £12M in Series B Funding, Total Reaches £30M
Deal News | Feb 26, 2025 | Business Cloud
Napo, a London-based pet insurance startup, has raised a £12 million Series B funding round, bringing its total funding to approximately £30 million. The latest round is led by Mercia Ventures with contributions from existing investors DN Capital, Companion Fund, MTech Capital, and Helvetia Venture Fund. The funds will be used to enhance Napo's AI and automation, expand market share, and attract exceptional talent for ongoing growth. Napo, named after co-founder Jean-Philippe Doumeng's dog Napoleon, emphasizes comprehensive pet insurance policies that include dental and behavioral treatment. The company distinguishes itself with a strong customer satisfaction score and aims to shift industry focus from low-cost policies to meaningful coverage. Backed by innovative, AI-driven claims processing and a mission for quality and sustainability, Napo seeks to redefine pet insurance for modern pet owners.
Sectors
- InsurTech
Geography
- United Kingdom – Napo is based in London, and the article is set in the context of the UK InsurTech and pet insurance sector.
Industry
- InsurTech – Napo is part of the InsurTech industry, focusing on technological innovation in the insurance sector, particularly pet insurance.
Financials
- £12 million – The amount raised in Napo's Series B funding round.
- £30 million – The total funding raised by Napo to date.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Napo | Target Company | Company | A London-based pet insurance startup providing comprehensive insurance policies with unique coverage options. |
| Mercia Ventures | Lead Investor | Company | A venture capital firm that led Napo's Series B funding round. |
| DN Capital | Investor | Company | An existing investor in Napo involved in the Series B funding round. |
| Companion Fund | Investor | Company | An existing investor in Napo participating in the Series B funding round. |
| MTech Capital | Investor | Company | An existing investor in Napo involved in the funding round. |
| Helvetia Venture Fund | Investor | Company | An existing investor in Napo participating in the Series B funding round. |
| Jean-Philippe Doumeng | Co-Founder and CEO | Person | Co-founder and CEO of Napo, a key figure in shaping its mission and strategy. |
| Ludovic Lacay | Co-Founder | Person | Co-founder of Napo, working alongside Jean-Philippe Doumeng. |
| Martijn Kleibergen | Investment Director | Person | Investment Director at Mercia Ventures, commenting on the investment in Napo. |