October 07, 2021
Latham & Watkins advised the lead
investor in Marshmallow’s US$85 million Series B funding round, giving
Marshmallow a post-money valuation of US$1.25 billion and making it only the
second Black-founded unicorn in the UK. Marshmallow has now raised more than
$100 million in the last 12 months.
Marshmallow uses technology, data and AI to
build innovative products that make insurance cheaper, faster and fairer for
everyone, particularly underserved communities who are typically priced out of
insurance cover. The Series B funding round will enable Marshmallow to continue
to use its products to improve the motor insurance industry by offering new
products and services to more customers, and to expand into other insurance
product lines and markets across Europe.
The Latham team was led by London corporate
partners Mike Turner and Shing Lo, with associate Aaron Bassett.