As pet owners turn to mobile insurance apps, Lassie raises $25M Series B led by Balderton

We last wrote about Lassiea pet health app and insurance provider, when it closed a €11 million Series A round in 2022. Its growth was fueled by the rise in pet ownership during the pandemic (almost half in all European households now own a pet, and and owner spend €23.5 billion to them every year) and when pet owners turn to mobile apps to keep their pet healthy. This has become a big driver for pet insurance companies such as ManyPets (UK) and Dalma (France).

Lassie has now raised €23 million in a Series B funding led by Balderton Capital. Previous investors including Felix Capital, Inventure, Passion Capital and Philian (H&M Chair Karl-John Persson) also participated in the round. That means Lassie has now raised a total of €36.5 million.

The funding will be used to develop Lassie’s team and products such as its in-app sales of health products for pets, and expand beyond its core bases in Germany and Sweden. The app contains online courses, and other health prevention information for pets. Owners who complete the courses receive rewards every insurance year, from lower premiums to loyalty points for its online store.

Lassie’s co-founder and CEO Hedda Båverud Olsson was partly inspired by growing up with a vet parent. He is joined by insurance expert, Sophie Wilkinson (former head of pet insurance at a Nordic insurance company), and technology lead, Johan Jönsson (former of Spotify and King).

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