U.K. fintech and insurtech startup Marshmallow has raised $90 million in debt and equity in a round led by Portage Capital, with participation from BlackRock and Columbia Lake Partners. Leveraging data science, Marshmallow now insures a million drivers and is profitable with annual run rate revenue projected to be $500 million. The company avails itself of the massive migrant population in the UK, and intends to use the new funds to launch additional products to the same demographic, including home insurance and lending products.
UK Insurtech Marshmellow Raises $90M
