Marshmallow picks up $1.2M seed to provide car insurance to immigrants and expats

Jun 7, 2018 · techcrunch.com

Alexander oliver kent braham

Marshmallow, a new ‘insurtech’ startup in the U.K. building a product for immigrants/expats who are poorly served by the car insurance market, has picked up $1.2 million in seed funding. Backing the company, which is set to launch later this year, is Passion Capital, and Investec Bank.

Founded in March 2017 by identical twins Oliver and Alexander Kent-Braham, and David Goate — all three of whom previously worked at digital identity company Yoti — Marshmallow is developing insurance products that aim to use better data and technology to provide more fairly priced insurance cover to non-U.K. nationals. To that end, the startup is starting out with car insurance for foreign-born drivers.

"Car insurance typically requires an insurer to understand a person’s driving ability, driving history and current lifestyle before they can offer them an accurate price," explains Marshmallow’s Oliver Kent-Braham.

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