Lassie, a trailblazing InsurTech startup, has successfully raised €23m in a Series B funding round led by Balderton Capital. This significant investment marks a milestone in the journey of Lassie, a company redefining pet insurance with a preventive twist.
The funding round was not only spearheaded by Balderton Capital but also saw participation from previous investors such as Felix Capital, Inventure, Passion Capital, and Philian, led by H&M Chair Karl-John Persson. This latest influx of capital brings Lassie’s total funding to an impressive €36.5m.
At its core, Lassie is revolutionizing the pet insurance industry. Unlike traditional insurers, Lassie focuses on preventive care, offering a unique combination of insurance and wellness coaching. Through its app-based platform, pet owners receive personalized courses and advice, encouraging healthier pet lifestyles. This approach not only benefits the pets but also leads to reduced insurance premiums and rewarding incentives for the owners.
The recent investment will fuel Lassie’s ambitious growth plans. The company aims to expand its ecosystem, which includes the in-app sale of pet health products. Additionally, Lassie is focusing on enhancing its technological capabilities and expanding its team. The funds will also support its ongoing success in Germany and Sweden, as well as planning for future international launches.
Lassie’s journey began in 2021 in Sweden, founded by Hedda Båverud Olsson, a visionary inspired by her veterinarian parent’s emphasis on preventive care. She was joined by Sophie Wilkinson, an insurance expert, and Johan Jönsson, a technology whiz with a background at Spotify and King. Together, they have positioned Lassie at the forefront of the multi-billion dollar pet insurance market.
With an impressive customer base of over 60,000, including a diverse range of dog and cat breeds, Lassie’s impact is evident. Its preventive approach to pet insurance is a game-changer, offering a much-needed alternative to traditional models.
Hedda Båverud Olsson, Lassie’s co-founder and CEO, passionately remarked, “Our four-legged family members are some of the most valuable parts of our lives – they provide love, companionship and happiness. In return, we want to ensure that they have long, happy, and most importantly, healthy lives.
“This is what we set out to do with Lassie by empowering owners to have all the resources at their fingertips to provide their pets with the care they deserve as well as bespoke insurance should the worst happen. We’re proud of everything we’ve achieved so far but we know there is still much more work to be done and we’re delighted to have the support of Balderton, to help us as we grow further.”
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