Insurtech Marshmallow has been granted a £15m ($18.6m) three-year revolving credit facility from Triple Point Private Credit.

Founded in 2017, Marshmallow aims to make motor insurance accessible to underserved customer segments, such as migrant workers, those with poor credit history, and also young drivers. So far, it has raised almost £100m with the firm being valued at over $1bn.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Triple Point works with borrowers to maximise their liquidity by structuring working capital facilities that match their needs and allow them to grow. In addition, it can provide facilities from £1m up to £50m to allow borrowers to raise funds against their growing asset base, income streams, or loan books.

Furthermore, it is committed to building close relationships based on mutual trust and supporting businesses at every stage of the journey.

Gavin Maitland Smith, head of structured finance, Triple Point, said: “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. More importantly, their commitment to increasing affordability and accessibility for underserved segments of the community mirrors Triple Point’s purpose-driven approach to investing.”

Oliver Kent-Braham, Co-CEO, Marshmallow, added: “We are really pleased to partner with Triple Point. They have a great track record working with other tech scale-ups and start-ups, and they truly value our mission to open up the market for underserved communities.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.