Marshmallow

Marshmallow is a London insurtech founded in 2017 that uses its own data and underwriting models to price car insurance for people who are often penalised by mainstream insurers, particularly recent migrants to the UK with thin credit or driving histories. It holds its own insurance licence and now insures around one million drivers, with a profitable annual revenue run rate reported at about $500m. The company became a unicorn in 2021 and in April 2025 raised $90m, split roughly equally between equity and debt, led by Portage Capital Solutions at a valuation just over $2bn, taking total funding to around $220m. The business was co-founded by twins Oliver and Alexander Kent-Braham and David Goaté.