Lassie secures fresh capital to scale across Europe
Lassie, a Stockholm-based prevention-first pet InsurTech, has raised €63.1 million (about $75 million) in a Series C funding round as it looks to accelerate European expansion and invest further in AI-driven claims and preventive health features.
The round drew backing from Balderton Capital, Felix Capital, Inventure, Passion Capital, and Stena Sessan. The company said the new funding will help it scale faster in major European pet insurance markets while strengthening its technology and partnerships.
CEO: prevention and localisation are central to growth
Hedda Båverud Olsson, CEO and co-founder of Lassie, said pet owners increasingly want support that keeps animals healthy, not just reimbursements after incidents. She pointed to a strategy built on “deep localisation” paired with a pricing approach that combines real-time data and preventive engagement.
Automation and “agentic AI” claims processing
Lassie positions itself against traditional insurers that rely heavily on manual workflows. The company says its claims engine uses agentic AI and can process a significant share of claims automatically. In Germany, it reports that roughly 60% of claims are handled end-to-end in around six minutes, with customers able to upload a photo of a vet bill for near-instant payouts in straightforward cases.
Engagement-driven insurance and partnerships
Beyond insurance, the app encourages daily use for activity logging, behaviour tracking, and guidance, offering rewards and premium discounts. Lassie claims 25% daily active users, compared with an industry average of 8–9%.
The company is also expanding partnerships that link routine pet care to insurance outcomes, including work with Lidl via its Lidl Plus rewards programme and with Tractive to enable activity-based incentives through GPS tracking.
Lassie operates in Sweden, Germany, and France, reporting service for about 250,000 pets and more than €84.2 million in ARR.
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