Lassie Funding News -Pet Insurance Lassie Secures €50M Funding

This puts Lassie ahead of its European competitors combined. For comparison, Dalma has 60,000 policies and Napo 70,000, even though both have raised more funding.

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According to CEO Hedda Båverud Olsson, one key advantage was starting in Sweden—one of the most mature pet insurance markets in the world.

“That meant we had to build an excellent product from day one. So when we expanded into Germany and France, our offering was already far ahead of the competition.”

“I focus on marketing, Sophie handles everything insurance-related, and One leads the tech. That combination means we’re strong on execution, and at the end of the day, that’s what really matters.”

Olsson says Lassie is more than just pet insurance—it's building a full pet care ecosystem.

Through the Lassie app, users get access to preventive care tips, dog training courses, activity tracking, dental checkups, and more. Pet owners can learn how to prevent injuries, earn points, and get discounts on their insurance. The app also suggests healthy pet products through Lassie’s online store.

Olsson says, “We’ve also built a very strong core insurance product. We’ve optimised everything from pricing to terms and conditions thanks to Sophie's expertise. But what really makes us stand out is the added value we offer—and the trust we’ve earned.”

Lassie recently hit a 4.7 rating on Trustpilot—a big achievement for a growing company.

Olsson notes that in markets like Germany, many people are buying pet insurance for the first time, which shows growing interest and opportunity.

“A big part of our mission there is education—many people don’t realize how expensive vet visits can be. That thinking was inspired by my mother, who’s a vet. Not everyone has access to that kind of knowledge, so part of our mission is to democratise it.”

Treatments can quickly add up to €10,000 or more, especially for surgeries or emergency care on weekends. For most people, that’s not money they have readily available.

 “Insurance lets pet owners treat their animals like family, without facing financial ruin.”

Lassie stands out by offering insurance for pets as young as eight weeks old, with no upper age limit.

Olsson explains, “We want to be inclusive and cover all pets, no matter their age.”

“Older pets can live long and healthy lives with the right care. It’s similar to humans—things like diet, exercise, and sleep make a big difference"

A common challenge in the pet care space is the growing demand for insurers to offer more add-ons.

Olsson says Lassie aims to provide high coverage limits so that pet owners can afford the treatments their pets need.

"But there’s a risk: higher limits can lead to upselling by clinics, pushing up prices and creating inequality around who can afford pet care.”

Lassie tackles this by partnering with clinics and promoting transparency. In Sweden, the app now shows pricing from various vet clinics, helping users compare costs and choose wisely.

“We’re also using data to help users know when a vet visit is necessary, or when they might just need to speak to a digital vet first.”

Lassie uses anonymised customer data to improve its dynamic pricing, allowing it to offer fairer rates based on factors like breed, age, and risk.

According to Olsson, it also helps to optimise claims: “We now have a large dataset of vet bills, which allows us to train AI models to process and validate claims more efficiently. That improves speed and accuracy, for us and our customers.”

Looking ahead, Lassie is focusing on expanding its app, with plans to add more training content, new partnerships, and interactive tools to boost user engagement.

Olsson notes: “Once we feel confident we’ve nailed those areas, we’ll look toward entering a new market. We’re excited about that possibility—but only once we’re truly ready.”

About Lassie

Lassie, founded in 2020, is the world’s first preventive pet insurance company and companion app focused on keeping pets healthy.