Marshmallow
Marshmallow is a London-based, app-first insurtech that underwrites car and van insurance using alternative data, proprietary pricing and fraud models, and credit for driving history from abroad. Its customers are migrants, expats and other drivers that traditional insurers often price poorly. It earns revenue from insurance premiums, which customers can pay monthly. Turnover rose 75% to £184m in 2023 and losses fell to £208k. In April 2025 it raised about $90m in equity and debt at a valuation above $2bn, after an $85m Series B in 2021 at $1.25bn. It says it has insured over one million drivers and is expanding into wider financial services for newcomers.
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