Marshmallow is a FinTech company that offers motor insurance and related products targeted at people who have recently emigrated to the UK. Founded in 2017 by Alexander and Oliver Kent-Braham and David Goaté, the company leverages proprietary technology and customer data to offer better value to newcomers. Marshmallow has provided cover for over one million customers and reports a turnover run rate of over €439 million. The business reached unicorn status in 2021 and employs around 700 people across London and Budapest. Marshmallow plans to expand its product offering to become a one-stop financial services provider for newcomers and to extend its proposition internationally beyond the UK. Marshmallow is a London-based car insurance provider that uses a wider set of data points and proprietary algorithms to offer more inclusive rates and attract a more diverse set of customers. The company has sold over 100,000 policies in the UK and grew policy sales 100% over the prior six months. Its average customer age is 20 to 40, and the team is exploring products aimed at even younger users. Marshmallow plans to deepen customer relationships by increasing engagement to help users become better drivers and by potentially cross-selling additional services. The startup is also progressing plans for international expansion, though target markets have not been announced. Marshmallow was co-founded by twins Oliver and Alexander Kent-Braham and David Goaté. Marshmallow builds mobile and web-native car insurance that uses a wider set of analytics and global data to assess risk for underserved segments, originally targeting expats who lack U.K. driving histories. The company’s algorithm incorporates international driving records rather than relying solely on national data. Marshmallow emphasizes diversity and inclusion in both its product focus and founding team. It was founded in 2018 and its leadership includes co-founders Oliver and Alexander Kent-Braham and third co-founder David Goate; Tim Holliday, a founding employee, serves as chairman. The startup plans to launch in additional countries and expand into more types of insurance over the next 18 months. With the latest funding it is valued at around $310 million, though the company is not disclosing customer numbers. Marshmallow is a U.K. insurtech building car insurance products for immigrants and expats who are poorly served by existing insurers. The startup is developing an underwriting system that aggregates global data rather than U.K.-only data and uses a proprietary algorithm intended to eliminate underwriting bias and compute more accurate prices for foreign-born drivers. It is starting with car insurance for foreign-born drivers and aims to offer fairer pricing and a transparent, convenient user experience compared with incumbents using legacy systems. The company was founded in March 2017 by Oliver and Alexander Kent-Braham and David Goate, and its team includes Tim Holliday, formerly Chief Underwriting Officer and MD of Personal Lines at Zurich. Marshmallow plans to launch later this year and targets foreign drivers who often face higher quotes after moving to the U.K. Financially, the company has raised $1.2 million in seed funding from Passion Capital and Investec Bank.

Total raised

$210M

Funding rounds

5

Latest round

Equity

Latest activity

Apr 2025