Marshmallow's Sweet Expansion: A $90 Million Leap into New Financial Horizons
April 17, 2025, 3:50 am
Location: United Kingdom, England, London
Employees: 201-500
Founded date: 2017
Total raised: $206.2M
Marshmallow, a London-based insurance intermediary, has just taken a giant leap forward. The company raised $90 million, pushing its valuation past the $2 billion mark. This funding is not just a number; it’s a ticket to new territories. Marshmallow plans to broaden its horizons beyond car insurance. Homeowners insurance and lending products are on the horizon, set to launch later in 2025.
Founded in 2016, Marshmallow started with a simple mission: to provide car insurance for expats. Fast forward to today, and the company has insured over one million drivers. In 2023, it reported a profit of £1.7 million. This growth story is not just about numbers; it’s about filling a gap in the market. Marshmallow aims to make life easier for newcomers to the UK, tackling the financial barriers they face.
The latest funding round saw participation from notable investors like Portage, BlackRock, and Columbia Lake Partners. This mix of equity and debt will fuel Marshmallow’s ambitions. The company is not just looking to expand its product offerings; it’s also eyeing international markets. The goal? To become a one-stop financial shop for newcomers, making their transition smoother and more affordable.
Marshmallow’s journey has been impressive. In 2021, it raised $85 million in a Series B round, setting the stage for its ambitious expansion plans. However, the road has not been without bumps. While the company added van insurance and underwent a rebranding, the broader ambitions took time to materialize. Now, with fresh capital, Marshmallow is ready to accelerate its growth.
The founders, twins Alexander and Oliver Kent-Braham, along with software engineer David Goaté, have a clear vision. They want to break down the financial barriers that newcomers face. In their eyes, moving to a new country should not come with a hefty price tag. Marshmallow believes that newcomers often pay more for insurance than locals. This belief drives their mission to provide better value.
With a turnover run rate exceeding €439 million, Marshmallow is not just a player; it’s a contender. The company employs around 700 people across London and Budapest. This workforce is dedicated to leveraging technology and customer data to enhance their offerings. The aim is to create a fairer financial ecosystem for all.
Marshmallow’s approach is rooted in technology. By utilizing proprietary tech, the company can better understand its customers’ needs. This understanding allows them to tailor products that resonate with their audience. The focus is on innovation, making financial services accessible and affordable.
The recent funding will also support Marshmallow’s plans to expand internationally. The company envisions offering financial products to newcomers in various countries, not just the UK. This global ambition reflects a growing trend in the FinTech space. Companies are increasingly looking beyond borders to tap into new markets.
The financial landscape is changing. Consumers are demanding more from their financial service providers. They want transparency, fairness, and accessibility. Marshmallow is positioning itself to meet these demands head-on. By focusing on newcomers, the company is carving out a niche that addresses a significant gap in the market.
Marshmallow’s story is one of resilience and ambition. The company has navigated challenges and emerged stronger. With the latest funding, it is poised for a new chapter. The focus will be on expanding product offerings and enhancing customer experience. This is not just about growth; it’s about making a difference in people’s lives.
As Marshmallow embarks on this journey, it will face competition. The FinTech space is crowded, with many players vying for attention. However, Marshmallow’s unique focus on newcomers gives it an edge. The company understands the struggles of its target audience and is committed to addressing their needs.
In conclusion, Marshmallow is more than just an insurance provider. It’s a beacon for newcomers navigating the complexities of life in a new country. With $90 million in fresh capital, the company is ready to expand its offerings and reach. The future looks bright for Marshmallow, and its mission to create a fairer financial ecosystem is just beginning. The sweet taste of success is within reach, and the journey has only just begun.
Founded in 2016, Marshmallow started with a simple mission: to provide car insurance for expats. Fast forward to today, and the company has insured over one million drivers. In 2023, it reported a profit of £1.7 million. This growth story is not just about numbers; it’s about filling a gap in the market. Marshmallow aims to make life easier for newcomers to the UK, tackling the financial barriers they face.
The latest funding round saw participation from notable investors like Portage, BlackRock, and Columbia Lake Partners. This mix of equity and debt will fuel Marshmallow’s ambitions. The company is not just looking to expand its product offerings; it’s also eyeing international markets. The goal? To become a one-stop financial shop for newcomers, making their transition smoother and more affordable.
Marshmallow’s journey has been impressive. In 2021, it raised $85 million in a Series B round, setting the stage for its ambitious expansion plans. However, the road has not been without bumps. While the company added van insurance and underwent a rebranding, the broader ambitions took time to materialize. Now, with fresh capital, Marshmallow is ready to accelerate its growth.
The founders, twins Alexander and Oliver Kent-Braham, along with software engineer David Goaté, have a clear vision. They want to break down the financial barriers that newcomers face. In their eyes, moving to a new country should not come with a hefty price tag. Marshmallow believes that newcomers often pay more for insurance than locals. This belief drives their mission to provide better value.
With a turnover run rate exceeding €439 million, Marshmallow is not just a player; it’s a contender. The company employs around 700 people across London and Budapest. This workforce is dedicated to leveraging technology and customer data to enhance their offerings. The aim is to create a fairer financial ecosystem for all.
Marshmallow’s approach is rooted in technology. By utilizing proprietary tech, the company can better understand its customers’ needs. This understanding allows them to tailor products that resonate with their audience. The focus is on innovation, making financial services accessible and affordable.
The recent funding will also support Marshmallow’s plans to expand internationally. The company envisions offering financial products to newcomers in various countries, not just the UK. This global ambition reflects a growing trend in the FinTech space. Companies are increasingly looking beyond borders to tap into new markets.
The financial landscape is changing. Consumers are demanding more from their financial service providers. They want transparency, fairness, and accessibility. Marshmallow is positioning itself to meet these demands head-on. By focusing on newcomers, the company is carving out a niche that addresses a significant gap in the market.
Marshmallow’s story is one of resilience and ambition. The company has navigated challenges and emerged stronger. With the latest funding, it is poised for a new chapter. The focus will be on expanding product offerings and enhancing customer experience. This is not just about growth; it’s about making a difference in people’s lives.
As Marshmallow embarks on this journey, it will face competition. The FinTech space is crowded, with many players vying for attention. However, Marshmallow’s unique focus on newcomers gives it an edge. The company understands the struggles of its target audience and is committed to addressing their needs.
In conclusion, Marshmallow is more than just an insurance provider. It’s a beacon for newcomers navigating the complexities of life in a new country. With $90 million in fresh capital, the company is ready to expand its offerings and reach. The future looks bright for Marshmallow, and its mission to create a fairer financial ecosystem is just beginning. The sweet taste of success is within reach, and the journey has only just begun.