Lassie raises $75 million

Swedish pet insurance startup Lassie has raised $75 million in Series C funding from Balderton Capital, Felix Capital, Inventure, Passion Capital, and Stena Sessan, bringing funding to date to $115 million.

Founded in 2020, Lassie offers coverage in Sweden, Germany, and France. The startup says that it now has more than $100 million in annual recurring revenue and ~250k pets covered.

“Pet parents don’t just want reimbursements — they want help keeping their pets healthy. This round enables us to accelerate our growth and expand our prevention-first offering to even more pet parents. We’ve shown we can build outstanding insurance products and then scale them market by market. The key is deep localisation paired with a unique pricing model that combines real-time data with a preventive approach, and we’re excited to repeat this across more European markets.” – Lassie CEO and co-founder Hedda Båverud Olsson.

“Balderton are excited to invest again in Lassie as they create the leading pet care ecosystem across Europe. Lassie’s best-in-class user engagement enables them to expand from insurance into preventive care and, over time, all aspects of looking after your pet. Their world-leading use of AI automation has allowed them to scale successfully across Germany, Sweden and France with a very lean team.” – Balderton Capital general partner Rob Moffat.