Pet Health Startup Lassie Raises €23M in Series B Funding
Lassie, the innovative pet health app and insurance provider, has secured €23 million ($25M) in a Series B funding round led by Balderton Capital. This latest investment brings the company’s total funding to €36.5 million since its inception.
The Growing Pet Care Tech Market
The pet insurance sector has experienced significant growth in recent years, driven by:
- A surge in pet ownership during the pandemic
- 50% of European households now own pets
- Annual pet-related spending reaching €23.5 billion across Europe
- Increasing demand for digital pet health solutions
This trend has fueled the success of pet insurance platforms like ManyPets (UK) and Dalma (France), with Lassie emerging as a key player in the space.
Strategic Expansion Plans
The new funding will enable Lassie to:
- Expand its team and product offerings
- Grow beyond its current markets in Germany and Sweden
- Enhance its in-app health product marketplace
- Develop its preventative care education platform
Innovative Approach to Pet Insurance
Lassie differentiates itself through:
- Educational Courses: Offers online pet health and prevention programs
- Reward System: Provides insurance premium discounts and loyalty points for course completion
- Expert Leadership: Founded by a team with deep industry knowledge:
- Hedda Båverud Olsson (CEO), inspired by her veterinarian parent
- Sophie Wilkinson, former head of pet insurance at a Nordic insurer
- Johan Jönsson, ex-Spotify and King technology lead
Investor Confidence
The Series B round saw participation from existing investors including:
- Felix Capital
- Inventure
- Passion Capital
- Philian (backed by H&M chair Karl-Johan Persson)
This strong investor support underscores the growing importance of tech-enabled pet care solutions in today’s market.
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