As pet owners turn to mobile insurance apps, Lassie raises $25M Series B led by Balderton | TechCrunch

We last wrote about Lassie, a pet health app and insurance provider, when it closed an €11 million Series A round in 2022. It’s growth had been spurred by the boom in pet ownership during the pandemic (nearly half of all European households now own a pet, and and owners spend €23.5 billion on them annually) and when pet owners turned to mobile apps to maintain their pet’s health. This turned out to be a big driver of pet insurance companies such as ManyPets (UK) and Dalma (France).

Lassie has now raised €23 million in a Series B funding led by Balderton Capital. Previous investors including Felix Capital, Inventure, Passion Capital and Philian (H&M Chair Karl-John Persson) also participated in the round. That means Lassie has now raised a total of €36.5 million.

The funding will be used to develop Lassie’s team and products such as its in-app sale of health products for pets, and expand beyond its core bases of Germany and Sweden. The app features online courses, and other information on preventative health for pets. Owners who complete the courses receive rewards every insurance year, from lower premiums to loyalty points for its online store.

Lassie co-founder and CEO Hedda Båverud Olsson was partly inspired by growing up with a veterinarian parent. She was joined by insurance expert, Sophie Wilkinson (a former head of pet insurance at a Nordic insurance company), and technology lead, Johan Jönsson (formerly of Spotify and King).