Swedish pet insurtech company Lassie secures $75 million in Series C funding following its achievement of $100 million in annual recurring revenue (ARR).

      Picture the moment you welcome a new dog or cat into your home—a blend of thrill and responsibility. You consider vet appointments, vaccinations, discovering the right food for them, scheduling check-ups, and constantly thinking about how to maintain their health as they grow.

      Most pet insurance plans only provide aid after an expensive accident or illness occurs. They don’t help prevent such situations. Lassie’s approach is based on a different perspective: equipping pet owners with tools to care for their pets daily, rather than just reacting when issues arise.

      Recently, the Stockholm-based insurtech, Lassie, has raised $75 million in a Series C funding round to expand its automated, preventive-focused pet care platform throughout Europe. This investment follows a successful period where Lassie achieved over $100 million in annual recurring revenue (ARR), a significant achievement for a pet-focused underwriting firm.

      This funding round attracted support from notable European investors such as Balderton Capital, Felix Capital, Inventure, Passion Capital, and Stena Sessan, indicating strong interest in technologies that integrate insurance with everyday wellbeing.

      Lassie was established with the vision of evolving pet insurance from a passive safety cushion into an active partner in animal health. The company’s app motivates pet owners to monitor diet, exercise, and preventive health practices, allowing them to earn rewards and reduce their premiums.

      Additionally, Lassie's backend leverages automation and AI to simplify claims, in some instances processing reimbursements within minutes of users submitting a bill.

      Achieving over $100 million in ARR places Lassie among the fastest-growing insurtech companies in Europe. The main markets include Sweden, Germany, and France, and the new capital will facilitate further expansion into important European regions.

      Furthermore, the company intends to enhance its AI claims and preventive health systems, strengthen collaborations with brands like Lidl and Tractive, and investigate additional services within the broader pet care sector.

      Ultimately, Lassie’s growth signifies a shift in how society views pets: not as occasional costs but as family members whose health is a daily concern. It is creating an ecosystem where care, knowledge, and proactive practices are just as vital as reimbursement for veterinary expenses.