Trupanion, a US-based firm providing medical insurance for cats and dogs, has acquired Smart Paws for an undisclosed sum.
The acquired firm is a pet insurance provider with operations in Germany and Switzerland.
Smart Paws, which was co-founded by veterinary and insurance professionals, operates exclusively in the pet insurance space and provides bespoke offerings to meet the pets’ and their owners’ needs.
The European insurer has ties with hospitals and veterinarians in Germany and Switzerland and it continues to expand in new markets.
Through the deal, Trupanion enters the German and Swiss markets and gets access to other key European markets.
Following the deal, Smart Paws will continue to manage and administer all its offerings and memberships.
The firm will be led by Simon Wheeler and operate as part of Trupanion’s international organisation.
Trupanion EVP of international Simon Wheeler said: “Continental Europe is a highly attractive opportunity for Trupanion, offering high per capita spending and relatively low levels of pet insurance penetration. Through the acquisition of Smart Paws, we look forward to expanding our footprint in other key European countries.
“In addition to being strategically positioned geographically in the European Union, the Smart Paws team brings expertise within the region’s veterinary industry, which will be integral to building our presence in that market.”
Currently, Trupanion has operations in the US Canada and Australia with over 700,000 pets enrolled on its platform.