Swedish pet insurtech Lassie raises $75M Series C after hitting $100M ARR

Imagine the moment you bring a new dog or cat into your life. That mix of excitement and responsibility. Vet visits, vaccines, learning what food suits them, managing check-ups, and always wondering how to keep them healthy as they grow.

Most pet insurance only steps in after a costly accident or illness. It doesn’t help you avoid the situation in the first place. Lassie’s product is built around a different insight: giving owners the tools to look after their pets every day, not just when something goes wrong.

Now, Stockholm-based insurtech Lassie has secured $75 million in a Series C round as it moves to scale its automated, preventive-first pet care platform across Europe. The financing follows a strong commercial run in which Lassie surpassed $100 million in annual recurring revenue (ARR), a notable milestone for a pet-focused underwriting business.

The round drew support from prominent European investors, including Balderton Capital, Felix Capital, Inventure, Passion Capital, and Stena Sessan, signaling broad interest in technologies that blur the line between insurance and day-to-day wellbeing.

Lassie was founded to rethink pet insurance not as a passive safety net but as an active partner in animal health. Its app encourages owners to track diet, activity, and preventive health behaviours, earning rewards and lowering premiums along the way.

At the same time, its backend uses automation and AI to streamline claims, in some cases completing reimbursements within minutes after users upload a bill.

Surpassing $100 million in ARR positions Lassie among the faster-growing insurtechs in Europe. Its core markets include Sweden, Germany, and France, and the fresh capital will accelerate further rollout into key European territories.

Moreover, the company plans to invest in its AI claims and preventive health stack, deepen partnerships with brands such as Lidl and Tractive, and explore adjacent services within the broader pet care category.

At its core, Lassie’s rise is a reflection of how people now think about pets: not as occasional expenses but as family members whose health matters every day. It is shaping an ecosystem where care, knowledge, and proactive habits are as much part of the offering as reimbursement for vet bills.