UNICORN PITCH DECK: Marshmallow becomes one of the UK's first ever Black-founded $1 billion startups with a fresh $85 million fundraise led by Hedosophia
Insurance startup Marshmallow has raised $85 million in fresh funding at a $1.25 billion valuation.
It is one of the UK's first Black-founded startups, run by twin brothers Oliver and Alexander Kent-Braham.Marshmallow, a London-based insurance startup, is the latest in a small club of Black-founded unicorns after theFounded by twin brothers and co-CEOs Oliver and Alexander Kent-Braham in 2017, Marshmallow provides insurance, particularly car insurance, and targets underserved customers such as immigrants and expats.
The company has raised $85 million in fresh funding from existing backers Passion Capital, Investec and Scor, and other unnamed investors., which also led Marshmallow's earlier Series A raise. Marshmallow declined to comment. "When we think back to four or five years ago there were no Black tech unicorns globally," Oliver Kent-Braham told Insider."It's crazy that it's taken this long but it's good for Europe now. We were encouraged to raise this round and our valuation reflects our impact and our significantly increased customer count in the past 18 months."
Zepz, formerly WorldRemit, recently closed a deal which valued the money transfer company at $5 billion, making it the first tech unicorn in the UK to be founded by a black person or person of black heritage.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Insurance start-up Marshmallow becomes Britain's first Black-owned unicornJust 0.2% of venture capital funding went to Black entrepreneurs in the U.K. between 2009 and 2019, according to Extend Ventures.
Read more »
After the 9/11 Attacks, Wall Street Bolstered Its DefensesWhile technological advances and broad efforts to shore up infrastructure have made trading outages rare, some investors and industry officials worry that cyberattacks pose a leading threat to U.S. markets.
Read more »
Unemployment Benefits End Tomorrow For Millions Of AmericansUnemployment insurance is ending. Are you prepared?
Read more »
Here's how much money you'll need to invest every month to retire with $1 million, $2 million or $3 million, broken down by ageIf you begin now, you can save $1 million, $2 million or $3 million — with the right amount of time and dedication.
Read more »
Australian court orders Allianz pay $1.1 mln penalty for travel insurance salesAn Australian court fined local units of Allianz SE for selling travel insurance to ineligible customers and not properly disclosing how it calculated premiums on Expedia websites, the country's corporate watchdog said.
Read more »