The new funding will support further investment in AI capabilities, expansion across European markets, and continued growth alongside established insurers.
Stockholm-based Lassie, a prevention-focused pet insurer, has raised $75 million in Series C funding to support its expansion across Europe’s pet care and insurance market. The round included participation from Balderton Capital, Felix Capital, Inventure, Passion Capital, and Stena Sessan, backing the company’s approach to insurance built around automation and preventive care.
Across Europe, pets are increasingly regarded as members of the family, influencing spending patterns on care, insurance, and well-being. At the same time, rising veterinary costs are placing greater financial pressure on owners and exposing limitations in slower, reactive insurance models. As a result, both the pet insurance and broader pet care markets are expected to continue expanding in the coming years.
Founded by Hedda Båverud Olsson, Sophie Wilkinson, and Johan Jönsson, Lassie combines insurance expertise, operational experience, and engineering-driven automation. Its model integrates insurance with preventive care to support long-term animal health.
The company delivers localised insurance products through a daily-use app that provides educational content and incentives for preventive care, using AI to streamline processes and improve the customer experience. Within its claims operations, Lassie has increased automation compared to traditional insurers that rely more heavily on manual processes.
In Germany, a significant share of claims is processed end-to-end within minutes, with customers uploading a photo of a veterinary bill and receiving prompt reimbursement for straightforward treatments.
With the Series C funding, Lassie plans to expand further across Europe’s major pet insurance markets and continue investing in AI-supported claims processing and preventive health capabilities.
The company is also developing partnerships designed to connect routine pet care with insurance services. These include a collaboration with Lidl to offer pet insurance through the Lidl Plus rewards programme, and a partnership with Tractive to provide activity-based rewards and discounts through GPS pet tracking.