Walking in public parks these days, you see far more dogs than you did three years ago. The loneliness of lockdowns due to the pandemic has led to a surge in pet owners. Additionally, pet owner demographics have changed. While grandma and grandpa used to tend to be pet owners, now her Gen Z and millennials make up about 70% of pet owners. This has resulted in significant competition among insurers for this new market and, of course, as expected, spawned new startups in the space.
In the UK you’ll find British ManyPets, Waggle and PetPlan, while in the US you’ll find Lemonade, Figo, ManyPets and Trupanion. In the EU you can find Dalma (France), Lassie (Sweden) and ManyPets (Sweden).
Meanwhile, pet insurance startup Napo has decided to approach the topic from a particular angle to provide pet health prevention information, pet ownership education, and additional services beyond just pet insurance. .
It is now led by DN Capital and has raised a £15m Series A round with participation from pet care focused companion funds Helvetia Venture Fund, M Tech Capital, Picus Capital, dmg Ventures, Salona Partners and T0 Ventures. procured. and FJ Lab.
Napo claims to have insured more than 35,000 pets in the year since it launched last December. We provide access to 24/7 online veterinary consultations, obesity awareness resources, and expert-led live classes to help you train your puppy dog.
Co-founder and CEO Jean-Philippe Doumeng said in a statement: We align all stakeholders in the same direction by enabling people to better care for their pets. ”
Guy Ward Thomas, who led the transaction at DN Capital, added: Pet health — all of this translates into fewer claims, lower premiums, and happier customers in the long run. ”
