Swedish pet insurance startup Lassie has secured $75 million in Series C funding, bringing its total capital raised to $115 million. The round was led by Balderton Capital, with participation from Felix Capital, Inventure, Passion Capital,and Stena Sessan.
Founded in 2020, Lassie provides pet insurance in Sweden, Germany, and France, and currently covers around 250,000 pets, generating over $100 million in annual recurring revenue. The startup has positioned itself as more than a traditional insurer, emphasizing preventive care and leveraging AI and real-time data to personalize coverage and pricing for pet owners.
Lassie CEO and co-founder Hedda Båverud Olsson highlighted the strategic vision behind the funding:
“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.”
Rob Moffat, General Partner at Balderton Capital, emphasized Lassie’s market-leading capabilities:
“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.”
The Series C funding will be used to accelerate expansion into additional European markets, enhance AI-driven preventive care offerings, and strengthen Lassie’s operational infrastructure to support its growing pet insurance ecosystem.
Lassie represents a new breed of technology-enabled insurers that focus on proactive care rather than purely reactive claims, signaling a shift in the pet insurance market toward health and wellness integration. With this investment, Lassie is well-positioned to become Europe’s leading preventive-focused pet care platform.
