Stockholm-based Lassie is betting that the future of pet insurance lies in prevention, automation, and everyday engagement rather than paperwork and delayed payouts. The company has raised $75 million in Series C funding to accelerate its expansion across Europe and deepen its focus on preventive pet care powered by technology.
A growing market under pressure
Across Europe, pets are increasingly treated as family members, driving higher spending on food, healthcare, and insurance. This shift has fuelled steady growth in the pet insurance market, but it has also exposed structural weaknesses. Veterinary costs are rising sharply, and many traditional insurance products are built around slow, reactive models that reimburse owners only after problems occur.
For pet owners, this often means unexpected bills, complex claims processes, and limited support around everyday health decisions. For insurers, it results in higher claims costs and inefficient operations. Lassie was founded to rethink this dynamic by combining insurance with prevention and automation.
Building insurance around prevention
Founded by Hedda Båverud Olsson, Sophie Wilkinson, and Johan Jönsson, Lassie brings together experience from insurance, operations, and engineering. From the outset, the company set out to design an insurance product that encourages healthier pets rather than simply paying out when something goes wrong.
At the core of Lassie’s offering is a daily-use mobile app that blends insurance management with educational content and incentives for preventive care. Pet owners are guided through routines such as vaccinations, training, exercise, and health checks, earning rewards for actions that support long-term animal health.
This approach aims to reduce avoidable health issues over time, benefiting both pets and insurers by lowering the likelihood of costly treatments later in life.
Automation at the heart of claims
Lassie’s technology-first model also extends deeply into its operations. Unlike many legacy insurers that rely heavily on manual claims handling, Lassie has invested in AI-driven automation to streamline processes and improve customer experience.
In markets such as Germany, a large proportion of claims are processed end to end within minutes. Customers can upload a photo of a veterinary bill through the app and receive reimbursement almost instantly for straightforward treatments. This level of speed and simplicity stands in contrast to traditional claims processes that can take days or weeks.
By reducing friction and administrative overhead, Lassie aims to build trust with customers while operating more efficiently at scale.
Backed by long-term investors
The $75 million Series C round attracted continued support from Balderton Capital, Felix Capital, Inventure, Passion Capital, and Stena Sessan. The investors are backing Lassie’s belief that prevention, automation, and data-driven insurance will define the next phase of pet care.
The funding brings additional momentum as Lassie targets Europe’s largest pet insurance markets and prepares for further geographic expansion.
Connecting insurance and everyday pet care
Beyond core insurance, Lassie is building partnerships that link routine pet care directly to its platform. The company has partnered with Lidl to offer pet insurance through the Lidl Plus rewards programme, widening distribution and embedding insurance into everyday consumer behaviour.
Another partnership with Tractive connects activity data from GPS pet trackers to Lassie’s app, enabling activity-based rewards and discounts. These collaborations reinforce Lassie’s focus on integrating insurance into a broader pet care ecosystem rather than treating it as a standalone financial product.
Scaling across Europe
With the new funding, Lassie plans to accelerate its European expansion while continuing to invest in AI-supported claims processing and preventive health features. The company’s ambition is to establish a modern, scalable insurance model that aligns the interests of pets, owners, and insurers.
As veterinary costs rise and expectations around digital services increase, Lassie is positioning itself at the intersection of insurance, technology, and everyday pet care, aiming to redefine how pet insurance works across Europe.
