Curql invests in Wagmo
Wagmo has received a strategic investment from Curql , a collective of more than 160 credit unions investing in financial technology.
The relationship will create a new distribution channel for Wagmo to offer pet insurance, wellness reimbursements and 24/7 virtual veterinary care to credit unions, their employees and members.
Wagmo’s pet healthcare plans currently reach more than 5 million employees across over 19,000 employer groups.
“Curql invests in companies that strengthen credit union members’ financial well-being. With more pets than children in American households today, families can face significant financial strain when their four-legged members need care. We’re proud to back Wagmo, which makes pet care simpler and more affordable while thoughtfully positioning itself as both a direct member benefit and a meaningful employee benefit.” – Nick Evens, president and CEO of Curql Collective.
Bottom Line: Wagmo launched in 2018 and has raised more than $25 million—an unusual level of venture backing for a monoline pet insurance distributor. The market was different then: Lemonade didn’t enter pet insurance until 2020, while Progressive arrived more recently. Now, Wagmo is turning to credit unions, where it will compete with established players including Figo, Prudent Pet, and ASPCA Pet Health Insurance.
