Pet insurance firm Lassie has raised €23 million ($24.9M) in a Series B funding round, with UK-based venture capital firm Balderton Capital contributing.
Lassie’s Co-Founder and CEO, Hedda Båverud Olsson, told GlobalPETS the fund will be used to expand the company’s footprint in Europe after opening a branch in Berlin earlier in the year.
The company is currently undergoing the strategic expansion work for 2024.
The capital injection will also serve to improve Lassie’s ecosystem, including its e-commerce capabilities.
Lassie is the first insurance investment that Balderton Capital has made in the last 5 years. “We’ve long been passionate about the potential for technological disruption in insurance,” says Partner Rob Moffat, who adds that insurance is a “really hard sector to break into and scale up in.”
In addition to pet insurance services, the Stockholm-based firm provides dog and cat owners coaching on pet health through online courses.
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