Latham & Watkins advised the lead investor in Marshmallow’s US$85 million Series B funding round, giving Marshmallow a post-money valuation of US$1.25 billion and making it only the second Black-founded unicorn in the UK. Marshmallow has now raised more than $100 million in the last 12 months.
Marshmallow uses technology, data and AI to build innovative products that make insurance cheaper, faster and fairer for everyone, particularly underserved communities who are typically priced out of insurance cover. The Series B funding round will enable Marshmallow to continue to use its products to improve the motor insurance industry by offering new products and services to more customers, and to expand into other insurance product lines and markets across Europe.
The Latham team was led by London corporate partners Mike Turner and Shing Lo, with associate Aaron Bassett.
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