Marshmallow Financial Services Limited

Based in the UK, Marshmallow Financial Services Limited specializes in car insurance tailored for newcomers, providing fair pricing based on driving experience outside the UK. Marshmallow Financial Services Limited is a UK-based company that focuses on offering car insurance products specifically designed for individuals who are new to the UK. The company was founded in 2017 and is headquartered in London. Co-founders Alexander Kent-Braham, David Goaté, and Oliver Kent-Braham have a background in entrepreneurship, with Alexander having previously been involved in other startups.

The company has engaged in 5 funding deals, with the latest funding round being a Series C led by Sagard, which raised a total of USD 56. 25 mn, bringing the company’s valuation to USD 2,000. 00 mn as of April 2025. Marshmallow Financial Services Limited specializes in providing car insurance tailored specifically for newcomers to the UK.

Their offerings include Fully Comprehensive insurance plans that cover damage and injury to both the insured driver and their vehicle, along with injury and damage to third parties. Marshmallow assesses driving experience obtained outside the UK to offer fairer pricing for recent immigrants. The company caters to diverse segments, including migrants, students, and individuals on spouse visas. Its insurance products are available exclusively to UK residents who intend to spend at least 183 days a year in the UK.

In 2023, Marshmallow generated revenue of USD 67,986,030. 80 with an EBITDA of USD 2,735,413. 40. The company generates revenue through direct-to-consumer insurance sales, offering several plans such as Marshmallow Lightest, Marshmallow Essential, Marshmallow Original, and Marshmallow Plus, each designed to meet different user needs while ensuring compliance with UK car insurance laws.

Marshmallow Financial Services Limited is planning to utilize its recent Series C funding, which was part of a larger USD 90 million round, to expand its product offerings and enhance technology. The company aims to enter international markets as part of its growth strategy. Specifically, they will use the funding to develop upcoming products and explore opportunities in new geographic regions by 2025, with a focus on addressing the needs of newcomers in these markets.