Triple Point provides InsurTech with £15m facility
IN BRIEF:
- Marshmallow raised an equity round in 2021 that pushed its valuation above $1bn
- Marshmallow will use the facility to expand its products to a broader range of customers, as well as take on additional dilution to shareholders
- So far, Marshmallow has raised almost £100m in funding
What does this mean?
"We have held conversations with Marshmallow’s management for some time about how we may help them with their funding requirements and are excited to be working with a management team that have successfully launched and scaled an insurance business so impressively,” said Gavin Maitland Smith, Head of Structured Finance, Triple Point. “More importantly, their commitment to increasing affordability and accessibility for underserved segments of the community mirrors Triple Point’s purpose-driven approach to investing.”
