London-based motor insurer, Marshmallow, has raised €79.4 million in funding to expand its insurance services for immigrants to the UK.
The funding round was backed by Portage, BlackRock, and Columbia Lake Partners.
Marshmallow aims to become a one-stop-financial-shop for newcomers, addressing major financial services barriers and offering affordable solutions for this group.
The company plans to broaden its services to international markets, helping immigrants who have relocated to other countries.