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MARSHMALLOW
Marshmallow
Insurance (digital car insurance) · London · United Kingdom · Founded · 2017 · ≈ · 508 · employees

Marshmallow Funding — Last Valued at $2B

Private

Marshmallow has raised $206.2M across 4 funding rounds. The latest round valued Marshmallow at $2B post-money, with Portage on the lead line.

ProfileValuationFundingCompetitorsStock & IPOHow to invest
Marshmallow funding · at a glance
Total raised, all rounds
$206.2M
sum of disclosed sizes
Funding rounds
4
priced rounds
Latest round
$2B
post-money · Jan 2026
Lead on that event
Portage
lead investor
2026
About Marshmallow

Marshmallow attained unicorn status in 2021 through an $85 million round that valued the company at $1.25 billion. Its earliest backing was a $1.2 million seed round in 2018 to build car insurance for immigrants and expats.

Funding timeline

The Marshmallow funding timeline

4 funding rounds, the latest highlighted.

2017
Marshmallow founded

Marshmallow was founded in 2017, United Kingdom.

JUN 2018
Seed

A primary round — the company sells new shares to investors it selects. $1.2M raised, led by Investec Bank, Passion Capital.

Valuation basisAmount$1.2MPrice / shareLeadInvestec Bank, Passion Capital
NOV 2020
Series A

A primary round — the company sells new shares to investors it selects. $30M raised.

Valuation basisAmount$30MPrice / shareLead
AUG 2021
Unicorn round at $1.2B post-money

A primary round — the company sells new shares to investors it selects. $85M raised.

Valuation basispost-moneyAmount$85MPrice / shareLead
JAN 2026LATEST
Series C at $2B post-money

A primary round — the company sells new shares to investors it selects. $90M raised, led by Portage.

Valuation basispost-moneyAmount$90MPrice / shareLeadPortage
IPO: NOT ANNOUNCED

No filing has been made.

Funding rounds

Marshmallow funding rounds in full

4 dated rounds, newest first.

Round
Date
Amount
Valuation
Price / share
Lead investors
Participation
Series C LATEST
Jan 2026
$90M
$2Bpost-money
—
Portage
—
Unicorn round
Aug 2021
$85M
$1.2Bpost-money
—
—
—
Series A
Nov 2020
$30M
—
—
—
—
Seed
Jun 2018
$1.2M
—
—
Investec Bank, Passion Capital
—
Marshmallow · investors

Investors

PPortageLEADInvestec BankLEADPassion CapitalLEAD

Frequently asked questions

How can I get exposure to Marshmallow?›

The routes section explains what is realistically available for a company at this stage.

Is Marshmallow publicly traded?›

No. Marshmallow is a private company; its shares do not trade on a public exchange.

What is Marshmallow's valuation?›

The last valuation is $2B (post-money, Jan 2026).

Who has invested in Marshmallow?›

Lead investors for each round are in the funding timeline.

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