Investors bet on Swedish pet insurance startup

Inventure announced leading a €2 million Seed round into Lassie, with participation from Passion Capital and angels Josefin Landgård and Stefan Lindeberg.

Over the years, the Inventure says they’ve taken a look at many companies innovating in the insurance sector (most notably with Insurello and Omocom) and seen over and over again how the incumbents in the space are too slow to adapt to new trends and customer demands.

One easy example is pet insurance. After meeting Lassie, it was clear to them that users deserve  much more than a quarterly payment to an insurance company and a phone number.

A few trends have come together to make the timing right for a new entrant. At a generational level, we’ve gotten closer to our pets– and with it animal healthcare costs have risen. Today we and our insurance companies open our wallets for cancer treatments, prescription medications, and whatever it takes to make our furry family members healthy again. We’re closer with our pets, as we should be with our pet insurance.

Lassie is on a mission to reduce preventable injuries by offering the first pet insurance that focuses on helping the pet parent keep their animal healthy. The service provides digital preventive courses that also reward pet owners with lower insurance premiums, as they collect points for keeping a healthy pet lifestyle.

Testing out the product, it is apparent this connects users with your pet, creates conversations in the dog park, and protects users from unwanted expenses.

Under the hood it gets even better. The team’s deep operational background in insurance means that Lassie isn’t figuring out how to build an insurance company as they go. They know what a modern insurance company looks like, and they’ve built one. With a solid foundation they will continue to build credibility and trust as they grow.