London-based InsurTech company, Napo, which specialises in pet insurance solutions, has successfully closed a €14.4m Series B funding round.
This latest investment brings the company’s total funding to approximately €36.1m as it seeks to strengthen its AI and automation capabilities, according to a report from EU Startups.
The funding round was led by Mercia Ventures, with participation from DN Capital, Companion Fund, MTech Capital, Helvetia Venture Fund, and other existing investors.
Founded in 2021 by Jean-Philippe Doumeng and Ludovic Lacay, Napo provides pet insurance that includes additional benefits often overlooked by competitors, such as dental cover and behavioural treatment.
Napo co-founder and CEO Jean-Philippe Doumeng said, “Our approach isn’t about cutting corners or offering cheap policies that don’t cover what matters. By controlling the full value chain, we’ve achieved an NPS of 70+, standout Trustpilot reviews, and a seamless experience for pet parents. We’ve built Napo to offer comprehensive coverage that truly matters – whether it’s dental care, behavioural support, or quick and fair claims handling, ensuring pet parents can focus on what really counts – their pet’s well-being. This funding fuels our mission to revolutionise pet insurance with sustainability and quality at its core.”
As part of its ongoing commitment to industry transformation, Napo has its ‘Fight Against Basic’ campaign, pushing back against price-driven policies that prioritise cost over coverage. The company aims to educate consumers on the risks associated with low-cost, minimal-coverage insurance, particularly in a market heavily influenced by price comparison websites.
DN Capital partner Guy Ward Thomas added, “Napo has proven our thesis that pet insurance needed a new, higher standard for a fast-growing market. Napo has clearly demonstrated that exceptional execution and an innovative customer-focused proposition can drive tremendous growth and customer love.”
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