Founded in 2017
Oliver and Alexander launched their leading car insurance platform not because they liked insurance, quite the opposite, in fact.
They believed it should be easy and affordable to get insurance for anyone including folks without credit history or a license from another country. They used technology to make it possible, while guaranteeing the best price.
Oliver wanted more capital to fuel marketing and product investments. But with the company already backed by VCs, they were determined not to give up more equity if they could avoid it.
Marshmallow was approved for their first advance of £100k in the spring of 2020. Using the investment for customer acquisition, Marshmallow’s revenues jumped by 56% in just two months.
They then topped up another £650k and invested into further growth projects before raising a new on equity round. The valuation they achieved from VCs was a multiple of where they were before working with Uncapped.
Use of funds